President Trump introduced Monday his administration would impose a 25 % tariff on imports from South Korea and Japan starting Aug. 1 as a part of a batch of letters going out to international nations.
Trump detailed the anticipated tariff charges in letters to the leaders of Japan and South Korea, additionally posting them to Reality Social. The president had beforehand indicated he would ship letters to roughly a dozen nations Monday.
“Please understand this 25% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,” Trump wrote to each nations.
The president warned that if both nation raised its tariffs in response, the U.S. would improve its tariffs by the identical quantity.
“As you aware, there will be no Tariff if Korea, or companies within your Country, decide to build or manufacture product within the United States and, in fact, we will do everything possible to get approvals quickly, professionally, and routinely – in other words, in a matter of weeks,” Trump wrote to South Korea’s president.
He conveyed the identical message to Japan’s prime minister.
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