WASHINGTON — President Trump warned the leaders of Japan and South Korea on Monday that they’d face 25% “reciprocal” tariffs starting Aug. 1 — with the option of no tariffs should each country choose to “build or manufacture product within the United States.”
Tokyo and Seoul were staring down the threat of 24% and 25% tariffs, respectively, before the president fired off the letters Monday.
“Please understand that the 25% is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,” Trump wrote to the leaders of each country.
“If for any reason you decide to raise your Tariffs,” he added, “then, whatever the number you choose to raise them by, will be added onto the 25% that we charge.”
