Trump Plans 25-40% Tariffs on Japan, South Korea, Five Others From August

President Donald Trump has announced new tariffs ranging from 25% to 40% on imports from seven countries, including major U.S. trade partners Japan and South Korea, effective August 1. These tariffs target goods from Japan, South Korea, Malaysia, Kazakhstan, South Africa, Laos, and Myanmar, with rates varying by country, and are intended to address persistent trade deficits. Trump warned that any retaliatory tariffs by these countries would lead to even higher U.S. tariffs, signaling a firm stance against reciprocal trade barriers. The administration’s approach has drawn criticism, especially regarding South Korea, as the new tariffs appear to violate the existing U.S.-Korea Free Trade Agreement, which eliminated most tariffs between the two countries and boosted bilateral trade. White House officials indicated further tariff letters would be sent to additional countries and emphasized the administration's goal to secure better trade deals and support American manufacturing. The tariff announcements have unsettled markets but reflect the administration’s aggressive strategy to rebalance trade relationships in favor of the U.S.