Trump Slaps 25% Tariffs On Japan, South Korea As Global Trade Deals Deadline Nears
Two days prior to the expiration of a moratorium on his “liberation day” duties, President Donald Trump will apply 25% tariffs on imports from South Korea and Japan.
On February 7, 2025, US President Donald Trump and Japanese Prime Minister Ishiba Shigeru held a joint news conference at the White House.
On April 2, 2025, President Donald Trump declared broad tariffs at the White House Rose Garden.
On Monday, July 7, Trump posted screenshots of letters announcing the increased tariffs on his Truth Social social media platform. The letters were sent to South Korean President Lee Jae-myung and Japanese Prime Minister Ishiba Shigeru.
According to both letters, on Thursday, August 1, the US will start imposing the new tariff rate.
“Please understand that these Tariffs are necessary to correct the many years of Japan’s Tariff, and Non Tariff, Policies and Trade Barriers, causing these unsustainable Trade Deficits against the United States,” Trump said in his letter to Shigeru. “This Deficit is a major threat to our Economy and, indeed, our National Security!”
The announcement was made before to Wednesday, July 9, Trump’s deadline for pausing the implementation of his broad tariffs. The so-called “liberation day” proclamation stated that South Korea would be subject to a 25% tariff and Japan would be subject to a 24% charge.
Trump stated in both letters that “any and all” South Korean and Japanese goods will be subject to the additional taxes.
“Goods transshipped to evade a higher Tariff will be subject to that higher Tariff,” the letters stated. “Please understand that the 25% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country.”
Along with space for further discussions, the letters also provided assistance for South Korean and Japanese businesses who relocate their manufacturing to the US.
“These Tariffs may be modified, upward or downward, depending on our relationship with your Country,” the president wrote.
The most recent tariffs were announced just hours after Treasury Secretary Scott Bessent told CNBC that “several” trade measures from the Trump administration are anticipated over the next two days. The White House could send up to 15 letters outlining new rates, Trump stated on Sunday, July 6, adding that “some deals have been made.”
Trump and his team stated at the beginning of the “liberation day” tariff halt that they could close “90 deals in 90 days,” but it appears improbable that they will be able to do it by July 9. As of this writing, Trump has only declared trade agreements with Vietnam and the United Kingdom.
The letters were made public as the economy has been shook by Trump’s shifting trade policy for the most of 2025.According to new federal data released in late June, consumer spending fell in May while inflation increased little.
In addition to a 10% baseline rate for many nations, other tariffs in place include 25% charges on steel, aluminum, automobiles, and light trucks.
