US President Donald Trump today imposed 25% tariffs on goods imported from Japan and South Korea and threatened both countries, key US allies in Asia, not to resort to retaliatory measures or the tariffs will be even higher.
He cited the ongoing imbalance in trade as the reason for introducing tariffs.
Trump announced the tariffs, which will take effect on August 1, via his social media account, Truth Social. There, he posted letters addressed to the leaders of both countries.
Both Japan and South Korea have been warned not to retaliate by increasing their own tariffs on imports of American goods, otherwise the Trump administration will increase tariffs further.
This could harm the automotive and electronics sectors of Japan and South Korea, two key US partners in countering China's influence.
"If for any reason you decide to increase your tariffs, then regardless of the amount of the increase, another 25 percent will be added to what we are charging," Trump wrote in letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.
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