Washington: US President Donald Trump has announced that he will start charging 25 percent import tax (tariff) on goods coming from Japan and South Korea starting August 1. He made this announcement through a post on his social media platform, Truth Social.
Trump also posted copies of letters he sent to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung, explaining the new tariff plan.
Strong Warning Against Retaliation
In the letters, Trump told both countries not to fight back by increasing their own import taxes. If they do, the US would add even more tariffs on top of the 25 percent.
“If you raise your tariffs, we will increase ours by the same amount,” Trump warned. He also claimed that the 25 percent tariff is actually low compared to what is needed to fix the trade gap the US has with these nations.
Make in America, Avoid the Tariff
Trump told both countries that their companies can avoid tariffs if they build products in the United States. He promised that the US would help speed up all necessary approvals for setting up factories.
“There will be no tariff if companies make their products inside the US,” he said, offering fast and smooth approvals.
More Letters Coming, Deals Being Discussed
Trump said he might send similar letters to other countries before July 9, giving them a chance to make trade deals or face more tariffs. He added that tariffs could go up or down depending on future relations.
Meanwhile, US Treasury Secretary Scott Bessent said the US is close to finalizing several trade deals, as many countries are rushing to propose offers.
Trade Talks with India Ongoing
Trump also mentioned earlier that a deal with India could be coming soon. However, India's latest trade meeting in Washington, led by top negotiator Rajesh Agrawal, ended without a final agreement—mainly due to disagreements over agricultural and dairy products.
