25% US tariffs hit Japan and South Korea
On Monday, US President Donald Trump announced the imposition of 25% tariffs on imports from South Korea and Japan, citing ongoing trade imbalances with the two key American allies in Asia.
According to official letters sent to his counterparts, Trump affirmed that the new tariffs will take effect on August 1, stressing the need to correct what he described as unfair trade practices.
He warned that any retaliatory measures—such as raising tariffs on American products—would be met with additional duties. 'If you choose for any reason to raise your tariffs, whatever percentage you decide will be added to the 25% we are imposing,' Trump stated.
The US President also posted messages on Truth Social addressed to countries affected by the new tariffs, reiterating his administration's firm stance on trade fairness.
Financial markets reacted to the announcement. The S&P 500 fell by around 1% in afternoon trading, while yields on US Treasury bonds rose to approximately 4.39%.
Earlier, Trump threatened
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