Trump sets 25% tariff on Japanese and South Korean products

Trump sets 25% tariff on Japanese and South Korean products

Tonight President Trump sending letters to countries around the world threatening steep new tariffs unless they make a deal. The move sending stocks tumbling. Japan and South Korea, two of America’s largest trading partners, now both facing 25% tariffs. South Africa would be hit with 30% tariffs, and for Myanmar and Laos, even steeper 40% tariffs. Trump writing the United States will perhaps consider an adjustment. This letter, these tariffs may be modified upward or downward depending on our relationship with your country. We welcome you as a trading partner, and here’s the rate unless you want to come back and try to negotiate. The administration promised 90 trade deals in 90 days. So far only announcing a deal with Vietnam and framework agreements with China and the UK. Today the president postponing his Deadline again. Those tariffs were scheduled to go into effect Wednesday in just 2 days. Now countries have until August 1st. The White House asks why the delay. Weeks ago I stood at this podium and I told all of you that the president was going to create tailor-made trade plans for each and every country on this planet, and that’s what this administration continues to be focused on. Rachel Scott, ABC News, Washington.

Trump provided notice of the tariffs to begin on Aug. 1 by posting letters on Truth Social that were addressed to the leaders of the various countries.
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Story: https://www.whas11.com/article/news/nation-world/trump-tariffs-japan-south-korea-new-import-taxes/507-eab7897c-714a-4d1d-a82f-25e91295399a
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