Trump announces 25% tariffs on imports from Japan and South Korea, starting Aug. 1 [View all]

Last edited Mon Jul 7, 2025, 02:10 PM - Edit history (1)

Source: CNBC

Published Mon, Jul 7 2025 12:27 PM EDT Updated 9 Min Ago


The United States will impose 25% blanket tariffs on imports from Japan and South Korea starting Aug. 1, President Donald Trump revealed Monday. Trump, in a pair of Truth Social posts, shared screenshots of letters apparently sent to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung dictating the new tariff rates.

The two form letters are the first to be sent before Wednesday, the day his so-called reciprocal tariffs on dozens of countries are scheduled to snap back to the higher levels he announced in early April.

White House press secretary Karoline Leavitt later said that 12 more letters will be sent out Monday, with even more set for the coming days. She also said that Trump would sign an executive order to delay the Wednesday deadline until Aug. 1.

Under Trump’s initial rates set on April 2, U.S. imports from Japan were assigned a 24% tariff and South Korean imports faced a 25% tariff. Following a chaotic week of losses across global markets, however, Trump issued a 90-day pause on April 9, which lowered the various tariff rates to a flat 10%. With Monday’s letters, Trump is effectively reimposing his initial “liberation day” tariff rates on two major U.S. trade partners.

Read more: https://www.cnbc.com/2025/07/07/trump-tariffs-trade-letters-japan.html

Published Mon, Jul 7 2025 12:27 PM EDT Updated 17 Min Ago


The United States will impose 25% blanket tariffs on imports from Japan and South Korea starting Aug. 1, President Donald Trump revealed Monday. Trump, in a pair of Truth Social posts, shared screenshots of letters apparently sent to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung dictating the new tariff rates.

The two form letters appear to be the first of what Trump said could be as many as 15 letters sent between Monday and Wednesday, the deadline when his so-called reciprocal tariffs on dozens of countries were scheduled to snap back to the higher levels he had set in April.

U.S. financial markets fell to session lows on news of the letters. The Dow Jones Industrial Average shed 447 points, or 1%. The S&P 500 lost 0.8%, and the Nasdaq Composite dropped 0.9%.



U.S. President, Donald Trump's letter to Prime Minister of Japan.
Donald Trump via Truth Social


U.S. President, Donald Trump's letter to President of the Republic of Korea.
Donald Trump via Truth Social

Both letters say that the 25% tariffs are separate from additional sector-specific duties on key product categories.

Trump announces 25% tariffs on Japan, South Korea in first U.S. trade letters

Published Mon, Jul 7 2025 12:27 PM EDT Updated 8 Min Ago


The United States will impose 25% blanket tariffs on imports from Japan and South Korea starting Aug. 1, President Donald Trump revealed Monday.

Trump, in a pair of Truth Social posts, shared screenshots of letters apparently sent to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung dictating the new tariff rates.



U.S. President, Donald Trump's letter to President of the Republic of Korea.
Donald Trump via Truth Social


U.S. President, Donald Trump's letter to President of the Republic of Korea.
Donald Trump via Truth Social


U.S. President, Donald Trump's letter to Prime Minister of Japan.
Donald Trump via Truth Social


U.S. President, Donald Trump's letter to Prime Minister of Japan.
Donald Trump via Truth Social

Both letters say that the 25% tariffs are separate from additional sector-specific duties on key product categories.

The letters also note, "Goods transshipped to evade a higher Tariff will be subject to that higher Tariff." Transshipping in this case appears to refer to the practice of transferring goods to an interim country prior to their final shipment to the U.S., in order to skirt tariffs.

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