Trump to Impose 25% Tariff on Japan, South Korea
We had been anticipating that we might
get some letters. Give us the details of what we know so
far. Yeah, President Trump, Katy had
previewed this. He said as many as 12 letters could be
sent today, basically informing our trading partners of the new tariff rates
they would face on August 1st if no trade deal is struck.
The first two he is led with, as you mentioned, are Japan and South Korea,
each of them facing a 25% tariff effective just a few weeks from now.
Now, the president did say that they could consider a readjustment, his
administration, that is to the tariff rate set out in the in these letters, if
indeed these markets were open to the US and tariff and non-tariff barriers were
eliminated. So leaving a bit of a window here for
some negotiation or wiggle room, potential changes that could happen over
the coming weeks before August 1st. But he also issued a warning to these
countries not to raise their own tariff rates in response to the 25% rate now
put on their goods, whether from Japan or South Korea, respectively.
The president warning in this letter, if for any reason these countries decide to
raise their tariffs, whatever the number you choose to raise them by, I’m quoting
directly here, will be added on to the 25% that we charge.
So he clearly doesn’t want to see any kind of retaliation from either Japan or
South Korea, which, again, Katy, are now facing a 25% tariff on all of their
exports into the United States effective on August 1st.
And we do expect that more of these letters could be coming over the course
of today as we get closer to what was originally a July 9th deadline, though
August 1st is now the date we’re all focused on.
President Donald Trump announced 25% tariffs on goods from Japan and South Korea starting August 1, as part of his effort to impose unilateral rates on countries without trade deals with the US. Kailey Leinz reports.
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23 Comments
Time to dump US bonds
There is no need to send letters. That's so yesterday. Any AI tool can create a website for that and it would be so much easier for all parties.
Best of luck of you American doggy 😂😂
can't wait to see the impact on car prices 🙂
Trump must wake up thinking who I am going to scr..w with today
This will not long last.
The senile old fool is making the Chinese look like a better option.
Buy your Nintendo Switches now boys
Oh MAGA idiots loving it
Literally war without bombs
Got bullied by china now tries to get revenge on his allies
Clown needs to kick the bucket.
Joker trumb… 😂😂
It's said the blue whale's anus can stretch to 3.5 feet, making it the SECOND biggest asshole in the world.
Pushing these countries closer towards China, the level of stupidity is stupefyingly dumb.
Doing Putin a favour early with Kazakhstan.
There's going to be a time where countries just decide engaging with the US's drama isn't worth it.
He TACOs. Then, @0:25 he warns he would TACO again compounding the multiple TACOs and at come August 1st, he TACOs everything all over again. Drama Orange in White House.
Let's deprive dollars from the single largest holder of our treasuries. And if they don't trade in dollars, we'll raise tariffs even more. What could go wrong?
So another 90 day suspension coming. 😂😂😂Taco trade
We need to pull the military out of all of these countries
Without the Tariffs for a trade off with little Tax Cuts that the Consumers are so happily accepted, that is called the Art of Deal.🤣🤣🤣
China: welcome to the club, pal
Hope nobody wanted a new computer or cell phone or anything else with electronics in it this year. And now we know why Trump has so many failed businesses; he doesn't know how to run a business.