Trump to impose additional 25% tariffs on Japan and South Korea
The Republican had advanced that he would send this Monday a first batch of letters to 12 trading partners, in which he will recall the need to seal a pact to avoid those levies.
Dozens of countries have negotiated the application of tariffs with the U.S.
Donald Trump on Monday sent the first letters announcing new tariffs to countries with which he is not moving forward on trade deals, and assured that Japan and South Korea will have additional rates of 25%.
In two practically identical missives, the president pointed out that the new tariffs to Japan and South Korea will take effect on August 1 since trade relations are "unfortunately far from reciprocal."
The Republican had advanced that he would send this Monday a first batch of letters to 12 trading partners, in which he will recall the need to seal a pact to avoid those levies. These countries include Laos, South Africa, Malaysia, and Kazakhstan, in addition to those mentioned above.
Japan's Prime Minister Shigeru Ishib had said Sunday that he would not "give in easily" in trade talks with Washington.
The tariffs will not take effect before August, Treasury Secretary Scott Bessent clarified over the weekend, in an apparent attempt to leave more room for negotiation.
"Change of tone" in negotiations
Trump imposed 10% tariffs on nearly all of his trading partners in April, and threatened even higher rates on some economies, such as the European Union. But soon after, in the face of the earthquake caused in the markets, he announced a pause that expires this Wednesday. Washington is confident that it will manage to close several deals before then.
"We're going to have several announcements in the next 48 hours," Bessent said Sunday in an interview with CNBC. "A lot of people have changed their tune in the negotiations. So my mailbox last night was full with a lot of new offers, a lot of new proposals," he asserted.
The Treasury secretary indicated that in the letters the president will remind countries of the tariff rate their products will have to pay unless they want to "go back and try to negotiate."
U.S. and recent agreements
So far, Trump has only reached trade agreements with the UK and Vietnam. Bessent plans to meet with his Chinese counterpart in the next two weeks.
The U.S. and China agreed to reduce mutual tariff rates that reached as high as triple digits until mid-August. The two sides have so far held high-level talks in Geneva and London.
The European Commission also noted that EU chief Ursula von der Leyen had a "good exchange" with Trump on Sunday on trade.
Trump and the "anti-U.S." bloc
Trump recently called the group founded by Brazil, Russia, India, China and South Africa, and which includes 11 other countries, "anti-American."
Trump will impose tariffs on the BRICS, which includes 11 other countries.
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