Port of Busan, South Korea. (Photo: THX/TTXVN)
On July 7, U.S. President Donald Trump announced a 25% tariff on imports from Japan and South Korea via his Truth Social platform, citing persistent trade imbalances with Washington’s two key allies in Asia.
In two nearly identical letters addressed to the leaders of Japan and South Korea, Trump stated that the tariffs would take effect on August 1, arguing that their trade relationships with the U.S. are "unfortunately far from reciprocal."
The president added that trade negotiations would be suspended, and formal notice of the tariffs would be sent to the respective governments.
Speaking to the press over the weekend, Trump said, “I’ve signed several letters, and they’ll be sent out on July 8—perhaps a total of 12.”
Washington had earlier warned it would impose new tariffs on imported goods from trading partners if no agreements were reached by the July 9 deadline.
According to U.S. Treasury Secretary Scott Bessent, the new tariff measures are expected to come into effect on August 1.
On the same day, President Trump also announced new tariff rates on Malaysia, Kazakhstan, South Africa, Laos, and Myanmar.
In letters posted on Truth Social addressed to the leaders of these nations, Trump stated that the new tariffs—also effective from August 1—could increase further if the countries retaliate with tariffs of their own.
The newly announced tariff rates are as follows: 25% on imports from Malaysia and Kazakhstan, 30% on South Africa, and 40% on Myanmar and Laos.
Source: vla.com.vn
