US President Donald Trump has announced a 25 percent tariff on imports from Japan and South Korea, accusing both nations of maintaining unbalanced trade ties with Washington.
In formal letters to their leaders, the US President said the levies would take effect from 1 August, claiming that current trade arrangements were ‘far from reciprocal.’
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The move marks the first in a series of warnings to trading partners ahead of a self-imposed deadline to secure new agreements.
Though the White House says the tariffs could be adjusted if Tokyo and Seoul revise their policies, President Trump has warned of further measures if they retaliate.
Japan’s Prime Minister Shigeru Ishiba has vowed not to concede easily in upcoming trade talks.
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