Japan, Trump and South Korea
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President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.
While South Korean imports to the U.S. face 25% tariffs, the same as Trump promised in April, the rate on Japan has been raised by 1 percentage point to 25%.
President Trump's newly announced 25% tariffs on goods from South Korea and Japan closely reflect tariffs for each nation that Trump had announced on April 2, before implementing a 90-day pause that was set to expire Wednesday.
US stocks fell Monday as President Donald Trump announced a flurry of tariffs on countries including Japan, South Korea and South Africa.
The U.S. will impose tariffs of 25% on Japan and South Korea beginning on Aug. 1, President Donald Trump announced on Monday in posts on Truth Social.