U.S. President Donald Trump announced plans to impose new tariffs of up to 25% on imports from Japan, South Korea, and a dozen other countries, aiming to pressure trade partners into new agreements.
The implementation of these higher duties has been delayed until 1st of August , giving time for further negotiations.
Countries such as Indonesia, Bangladesh, Thailand, South Africa, and Malaysia have also received notices of tariffs ranging from 25% to 40%, marking a sharp increase from the previous 10% rate.
In letters to Japanese and South Korean leaders, Trump argued that their trade relations with the U.S. were “far from reciprocal” and warned against retaliation, though he left room for adjustments if trade policies changed.
Japanese Prime Minister Shigeru Ishiba responded firmly, stating he would not “easily compromise” in trade talks.
Originally announced on 2nd of April as part of Trump’s so-called “Liberation Day” initiative, the sweeping tariffs were paused for 90 days amid market volatility, with that deadline now extended.
White House Press Secretary Karoline Leavitt said Trump plans to outline “reciprocal tariff rates” in the coming month as talks continue.
Products from Indonesia, Bangladesh, and Thailand will face tariffs of 32%, 35%, and 36%, respectively, while some nations like Laos and Cambodia will see lower rates.
So far, the U.S. has only reached limited trade deals with Britain, Vietnam, and temporarily eased tariffs with China.
Despite growing market concerns — with the Nasdaq dropping 0.9% and S&P 500 falling 0.8% — Trump maintains that more countries are now making fresh offers to avoid the levies.
Trump also threatened a 10% tariff on countries aligning with the BRICS group, accusing them of pursuing “anti-American policies.”
The European Commission noted that EU President Ursula von der Leyen had a “good exchange” with Trump regarding trade over the weekend.
