Japan, Trump and South Korea
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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%.
President Trump's newly announced 25% tariffs on goods from South Korea and Japan closely reflect tariffs for each nation that Trump had announced on April 2, before implementing a 90-day pause that was set to expire Wednesday.
US stocks fell Monday as President Donald Trump announced a flurry of tariffs on countries including Japan, South Korea and South Africa.
President Donald Trump announces 25% tariffs on all imports from Japan and South Korea, sparking market jitters and trade concerns.
The president warned both countries that if they retaliate with their own tariffs, the U.S. would further increase import taxes.
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