Update (1345ET):
White House Press Secretary Karoline Leavitt announced that, alongside Japan and South Korea, a dozen additional countries will soon receive similar trade warning letters, all of which will be publicly posted on President Trump's Truth Social account.
Leavitt also stated that the tariff implementation deadline has been moved from July 9 to August 1, giving the countries that receive letters a clear ultimatum: negotiate now.
Latest headlines:
- LEAVITT: THERE WILL BE 12 OTHER COUNTRIES GETTING NOTIFICATION
- LEAVITT: TRUMP TO SIGN ACTION TODAY DELAYING TARIFFS
- LEAVITT: LETTERS WILL BE POSTED TO TRUTH SOCIAL
- LEAVITT: TRUMP ALSO SIGNING ORDER DELAYING TARIFFS TO AUG 1
* * *
Update (1246ET):
The
first two trade letters were sent to South Korea and Japan, imposing a 25% tariff on all goods, effective August 1.
Here are the
key points from the letter addressed to South Korea that was posted on President Trump's Truth Social page:
- The U.S. views the trade relationship as unbalanced and non-reciprocal.
- The 25% tariff applies to all Korean goods, unless they are produced within the U.S.
- The tariff is separate from sectoral tariffs and will be increased if Korea retaliates with its own tariff hikes.
- The U.S. encourages Korea to open its markets and remove trade barriers—offering a possible tariff reduction if this happens.
- The trade deficit is framed as a national security threat.
Here are the
key points from the letter addressed to Japan that that was posted on Trump's Truth Social page:
- A 25% tariff will be imposed on all Japanese products entering the U.S. starting August 1, 2025.
- This tariff applies separately from all existing sectoral tariffs.
- The U.S. cites Japan’s tariffs, non-tariff policies, and trade barriers as causes of a persistent and unsustainable trade deficit; The U.S. claims the relationship has been non-reciprocal for too long.
- No tariffs will apply if Japanese companies manufacture products within the U.S.
- If Japan raises its tariffs, the U.S. will add that amount to the existing 25% tariff.
- The U.S. expresses willingness to reconsider or adjust tariffs if Japan opens its markets and removes trade barriers.
