Trump announces 25 per cent tariff on two key trading partners
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US President Donald Trump has intensified the pressure on two significant American trading partners, Japan and South Korea, by sending letters to their leaders outlining the new tariff rates.
These countries will encounter a 25 per cent tariff starting August 1, Trump announced in posts on Truth Social on Monday (early Tuesday AEST), showcasing the letters and possibly allowing more time for negotiating agreements.

In the two almost identical letters, Trump expressed specific concerns over the trade deficits the US has with these countries, as the US imports more than it exports there. Trump also stated these tariffs are in response to other policies he believes hinder American goods from entering foreign markets.

US President Donald Trump (pictured with Howard Lutnick) sent letters to countries on July 7 telling them what rates their goods will be tariffed at if they don’t quickly make trade deals with the United States.(Photo by Tomohiro Ohsumi/Getty Images)

Despite this announcement, the stocks of automotive companies with significant manufacturing operations in Japan and South Korea fell sharply. For example, US-listed shares of Nissan Motors decreased by over 7 per cent, while Toyota and Honda shares dropped by 4 per cent.

These declines might highlight the increased risk of Trump possibly elevating tariffs on cars from these countries if they retaliate against the proposed 25 per cent tariffs by imposing higher tariffs on American products.

“These Tariffs may be modified, upward or downward, depending on our relationship with on our relationship with your Country. You will never be disappointed with The United States of America,” Trump ended the letters before signing off.

US stocks, which were already sliding, dropped lower after Trump’s announcement. The Dow was down as much as 530 points, or 1.2 per cent. The S&P 500 fell 0.87 per cent and the Nasdaq fell 0.9 per cent.

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