As the expiration for the temporarily lowered ten percent reciprocal tariff rate nears, US President Donald Trump has warned Japan that it could face an even higher tariff rate beginning in August. With many key camera brands headquartered in Japan, the move could factor into camera and lens prices that have already begun to escalate in the US.
On Monday, July 07, Trump wrote letters to Japan, Malaysia, and several others telling the countries that the tariff rate for goods imported into the US will be 25 percent beginning on August 01. The change is only a one percent increase on the original 24 percent tariff for Japanese goods announced in April. But, the change is significantly higher than the 10 percent 90-day tariff pause for most countries, which expires on Wednesday.
