The latest news on the United States, Japan and South Korea. The United States has announced a substantial tariff increase affecting imports from major allies Japan and South Korea, signaling an escalation in ongoing trade disputes.
“If, for any reason, you decide to raise your tariffs, then, whatever the number you choose to raise them by, will be added on to the 25% that we charge,” Trump told Japan and South Korea in letters released on his Truth Social platform.
These tariffs are set to take effect from August 1, despite continued talks aimed at reaching new trade agreements. Several other countries also face heightened levies as Washington seeks to address trade imbalances. Markets reacted cautiously, with mixed responses across regions.
