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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.
The United States’ closest security allies in Asia, along with several Southeast Asian countries, have been given another three weeks to negotiate trade deals — or face higher tariffs.
President Donald Trump sent out letters to nations that haven't entered into trade agreements with the U.S., informing them of their new tariff rates.
In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.
South Korean and US trade officials have discussed extending the July 9 deadline for trade deals in a last-minute bid to avert sweeping tariffs from President Donald Trump.
The US plans to impose a 25% tax on products entering the country from South Korea and Japan on 1 August, President Donald Trump has said. He announced the tariffs in a post on social media, sharing letters he said had been sent to leaders of the two countries.
South Korea's Trade Minister Yeo Han-koo said on Friday that he might request an extension of the freeze on U.S. tariffs that is set to expire within days when he heads to Washington for talks with U.
SEOUL: South Korea's Lee administration is scrambling to take the edge off the United States' new tariffs, as the nation's top security adviser departed Seoul on Sunday (July 6) to travel to Washington and join forces with Seoul's trade minister who arrived there the day before.
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