Japan, South Korea face 25% tariffs
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President Donald Trump cranked up the pressure Monday on America’s trading partners, firing off letters to heads of several countries, informing them of their new tariff rate. But at the same time, Trump took some of the edge off by signing an executive action Monday to extend the date for all “reciprocal” tariffs,
Trump shared screenshots of letters detailing new tariff rates for over a dozen countries, allowing room for further negotiations before the renewed deadline of Aug. 1.
The Japanese government announced Tuesday it plans to negotiate with the Trump administration over a planned increase in the tariff rate placed on it, even if it was painful news to receive.
Negotiations have stalled ahead of next week’s deadline, with some suggesting Japan misjudged the depth of President Trump’s frustration over Tokyo’s policies.
The most severe blow landed on Brazil, which now faces a 50% tariff on its goods. In a letter posted on his Truth Social platform, Trump accused Brazil’s leadership of undermining democracy and free speech, referring to the prosecution of former President Jair Bolsonaro, a close ally.
Trump announces tariffs up to 40% on 14 countries including Japan, South Korea, and Malaysia. August 1 deadline set for trade deals or face crushing penalties.
Trump announced the United States would impose new tariffs on imports from several additional countries as part of his drive to reduce the trade deficit and promote fair trade.
Tokyo had expected smooth tariff negotiations but is experiencing whiplash, becoming a central target of President Trump’s trade frustrations.