President Trump announced Monday his administration would impose a 25 percent tariff on imports from South Korea and Japan beginning Aug. 1 as part of a batch of letters going out to foreign countries.
Trump detailed the expected tariff rates in letters to the leaders of Japan and South Korea, also posting them to Truth Social. The president had previously indicated he would send letters to roughly a dozen countries Monday.
“Please understand this 25% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,” Trump wrote to both countries.
The president warned that if either nation raised its tariffs in response, the U.S. would increase its tariffs by the same amount.
“As you aware, there will be no Tariff if Korea, or companies within your Country, decide to build or manufacture product within the United States and, in fact, we will do everything possible to get approvals quickly, professionally, and routinely – in other words, in a matter of weeks,” Trump wrote to South Korea’s president.
He conveyed the same message to Japan’s prime minister.
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