Washington: President Donald Trump Monday placed a 25 per cent tax on goods imported from Japan and South Korea, citing persistent trade imbalances with the two crucial US allies in Asia.
Trump provided notice of the tariffs to begin August 1 by posting letters on Truth Social that were addressed to the leaders of both countries. The letters warned both countries to not retaliate by increasing their own import taxes, or else the Trump administration would increase import taxes that could damage the auto and electronics sectors of Japan and South Korea, two crucial partners for the US in countering China’s influence.
“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25 per cent that we charge,” Trump wrote in letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.
