FX.co ★ Trump to Impose 25% Tariffs on Imports from Japan and South Korea

President Donald Trump has declared the imposition of a 25% tariff on imports from South Korea and Japan, effective from August 1. He communicated this decision through posted letters to these nations' leaders via his social media platform. Furthermore, Trump warned of the possibility of increasing tariffs should these countries choose to retaliate. Concurrently, he has levied additional tariffs ranging from 25% to 40% on imports from 14 other countries, including South Africa, Thailand, Malaysia, and Kazakhstan. Treasury Secretary Scott Bessent, on Monday, indicated that the United States would be issuing several trade-related announcements within the next 48 hours, ahead of the Wednesday deadline for finalizing trade agreements.