Mr. Trump posted 'tariff letter', imposing 25% tax on Japan and Korea from August 1

President Trump with a document discussing trade barriers against the US - Photo: REUTERS

In a letter to the Japanese Prime Minister , President Trump announced that starting August 1st, the US will apply a tariff of "only" 25% on any goods that Japan exports to the US.

This tax rate will be separate from industry-specific tariffs, and goods in transit (transshipping) that are subject to higher tariffs will be taxed more heavily.

The American leader then affirmed that "there will be no tariffs" if Japanese companies decide to manufacture in the United States, and Washington pledged to facilitate this process as quickly, smoothly, and professionally as possible.

"If for any reason Japan decides to raise tariffs, whatever percentage you choose to increase them to will be added to the 25% we've already calculated," Trump warned.

The letter sent to the South Korean president contained similar content. In both letters, Trump argued that the 25% tariff was intended to ensure fair trade and address the trade deficit between the US and these countries.

South Korea and Japan are two of Asia's leading economies and also treaty allies of the United States.

"Please understand that 25% is far less than what is needed to eliminate the trade deficit we have with your country," President Trump said in both letters.

Copies of two letters that Trump sent to the leaders of Japan and South Korea informing them of the tariffs that would be imposed on these two countries starting August 1st - Photo: White House X Account

Trump had previously warned he would send more letters to world leaders before the 00:01 AM deadline on July 9 (Eastern Time), pressuring them to make concessions and accept the deal, or face higher tariffs.

In April, he announced he would impose retaliatory tariffs on goods from hundreds of economies, but then postponed it for 90 days to negotiate. At that time, Japan was threatened with a 24% tariff, while South Korea faced a 25% tariff.

Now, the tariffs that Trump has imposed on Japan and South Korea are equal to or higher than those announced in April.

US stocks continued to fall following the announcement. The Dow lost 530 points (1.2%), the S&P 500 fell 0.87%, and the Nasdaq dropped 0.9%.

The letter concluded by suggesting that if Japan and South Korea opened their markets to American goods, eliminating tariffs, non-tariff policies, and trade barriers, the U.S. might consider making adjustments.

"These tariffs can be adjusted, increased or decreased, depending on the relationship between the United States and your country. You will never be disappointed with the United States," Trump emphasized.

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