Trump, Tariffs
Digest more
President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.
While South Korean imports to the U.S. face 25% tariffs, the same as Trump promised in April, the rate on Japan has been raised by 1 percentage point to 25%.
In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.
The U.S.’s closest security allies in Asia, along with six Southeast Asian countries, have been given another three weeks to negotiate trade deals — or face higher tariffs.
2h
Yonhap News Agency on MSNS. Korea, U.S., Japan to hold 3-way high-level talks amid concerns over Trump tariffsSouth Korea, the United States and Japan will hold trilateral ministerial talks on the sidelines of a multilateral gathering in Malaysia on Friday, Seoul officials said, with steep U.S. tariffs, and other shared regional and global issues likely to be high on the agenda.
Secretary of State Marco Rubio met counterparts in Southeast Asia during his first visit to the region since taking office.
23h
Stocktwits on MSNJapanese Carmakers Cut US Export Prices Most In Nearly A Decade To Offset Trump TariffsJapanese carmakers cut export prices to the U.S. by a record 19.4% in June, the steepest decline since at least 2016. The drop reflects efforts to stay competitive after U.S. President Donald Trump’s 25% auto tariffs took effect in April,
It shows that personal grudges rather than simple economics are a driving force in the U.S. leader’s use of tariffs.