Donald Trump announced on Monday that the United States plans to put a 25% tax on goods brought in from South Korea and Japan, starting August 1.
This is part of a larger threat to place high taxes on imports from twelve more countries by next month. The first announcement came in the form of identical letters posted on his Truth Social media platform, sent to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung. According to CBS, these new taxes line up with the planned end of a 90-day pause on special U.S. tariffs for many countries, including Japan and South Korea, which was supposed to expire on July 9.
