Trump’s Tariff Blitz: US Slaps 25% Tariff on Japan, South Korea, and More

(The Post News)- United States has imposed significant tariffs on Japan and 13 other trading partners. Japan will face a 25% tariff on its imports to the US, effective August 1. This move has drawn criticism from Japan’s Prime Minister, Shigeru Ishiba, who expressed disappointment and called the decision “truly regrettable”.

Despite this setback, PM Ishiba emphasized that Japan remains committed to negotiations with the US, aiming to work out a mutually beneficial deal while protecting its interests. Japan’s economy, heavily reliant on exports, is bracing for the impact of these tariffs. PM Ishiba explained that trade talks are progressing slowly as Japan prioritizes careful negotiations, avoiding rushed compromises.

The US has announced new tariff rates for 13 other trading partners, including:

• South Korea: 25%
• South Africa: 30%
• Serbia and Bangladesh: 35%
• Thailand and Cambodia: 36%
• Myanmar and Laos: 40%

President Trump frames these tariffs as a necessary step to rework trade deals viewed as unfair. The tariffs are part of a broader effort to reshape US trade policy and address trade deficits. US Treasury Secretary Scott Bessent said the re-imposed tariffs would not take effect until August 1, giving negotiators a few extra weeks to reach agreements.

The tariffs could have far-reaching consequences, including:

• Increased Costs: Higher tariffs may lead to increased costs for US consumers and businesses importing goods from affected countries.
• Retaliation: Countries like Japan and South Korea may retaliate with tariffs on American products, potentially sparking a trade war.
• Global Economic Impact: The tariffs could impact global economic growth, particularly if other countries respond with protectionist measures.

Talks between Japan and the US will continue, with both sides aiming to find a solution that works for everyone. President Trump warned that if Japan or others try to hike tariffs on American products, the US will hit back with matching increases. The US stock market sank shortly after Trump’s announcement, with the Dow dropping by as much as 530 points.

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Tsireledzo Ndou

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