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chairman Donald Trump On Monday, it was announced that the US would impose 25% tariffs on goods imported from Japan and South Korea.
Trump shared letters addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee J-Mung in the posts of truth social.
The new levy will be effective on 1 August. If either Japan or South Korea increases tariffs in vengeance, Trump said in his letters That American tariffs will grow with the same amount.
Trump urged to take South Korea on technical rules that target us, leave China
Japanese Prime Minister Shigeru Ishiba speaks during a news conference in Tokyo, Japan. Getty images
Shares reacted to the announcement, with Dow jones industrial average More than 500 points, or more than 1.1%, a session was reduced, while S&P 500 and Nasdaq overall fell 0.9%in each.
Trump’s letter Said that it is “a great honor to send you this letter that it displays the strength and commitment of our business relations,” and that the US has agreed to continue working with Japan and South Korea “despite having a significant trade deficit with each country”.
Tariffs will return to April level. If the countries do not deal till 1 August, then Besent says
“Nevertheless, we have decided to move forward with you, but only more balanced, and fair, with business. So, we invite you to participate in extraordinary Economy of the United States, Number one market in the world, so far, “Trump wrote.
He told Japan and South Korea that “there will be there No tariff“If companies in those countries” decide to make or manufacture products within the United States and in fact, we will make every effort to get approval in a case of weeks, quickly, professional and regularly – in other words. ,
Trump shared letters addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee J-Mung in the posts of truth social. (Tasos Katopodis / Getty Image / Getty Images)
“We are ready to work with you as your trading partner for many years to come. If you want to open your Hetofour closed trading markets to the United States, and end your tariffs, and non -tariffs, policies and business obstacles, we probably consider a adjustment in this letter,” said “said.”
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Trump wrote, “These tariffs can be modified up or downwards, depending on our relationship with your country. You will never be disappointed with the United States.”
In April, Trump announced a “mutual” tariff policy, under which American tariffs on goods imported from abroad would be based on the size of the US bilateral trade deficit with countries.
In April, Trump announced the “mutual” tariff policy during an event called “Liberation Day”. (Chip Somodeville / Getty Image / Getty Image)
Under the so-called “Mukti Divas” incident declared in the incident, imports from Japan will face 24% tariffs, while South Korea’s goods will apply 24% tariff-those figures that are in line with 25% tariffs on a large scale, which the President announced in his letters.
