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President Donald Trump on Monday announced a 25 percent tariff on goods imported from Japan and South Korea, citing what he described as ongoing trade imbalances with the two longtime U.S. allies in Asia.
The tariffs are set to take effect on Aug. 1. Trump made the announcement by posting letters on Truth Social addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.
In the letters, Trump warned both governments not to retaliate by increasing their own tariffs. If they do, he said, the United States would respond by further increasing import taxes, specifically threatening industries vital to both countries’ economies.
The president wrote, “It is a Great Honor to send you this letter in that it demonstrates the strength and commitment of our Trading Relationship,” and that the U.S. has agreed to continue to work with Japan and South Korea “despite having a significant Trade Deficit” with each country.
“Nevertheless, we have decided to move forward with you, but only with more balanced, and fair, TRADE. Therefore, we invite you to participate in the extraordinary Economy of the United States, the Number One Market in the World, by far,” Trump continued.
“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% that we charge,” Trump wrote.
The move marks a sharp escalation in Trump’s trade strategy, targeting two key allies that have played major roles in countering China’s growing influence in Asia. Both Japan and South Korea are major exporters of automobiles, electronics and machinery to the United States.
The White House has not released additional details on the specific goods affected or whether talks are ongoing to resolve the dispute before the tariffs take effect. The governments of Japan and South Korea have not yet issued public responses to the announcement.
The president also posted similar letters with rates from 25 to 36 percent for seven additional countries on Monday. The nations included Tunisia, Bosnia and Herzegovina, Indonesia, Bangladesh, Serbia, Cambodia and Thailand.