The latest news on the United States, Japan and South Korea. The United States has announced a substantial tariff increase affecting imports from major allies Japan and South Korea, signalling an escalation in ongoing trade disputes.
"If, for any reason, you decide to raise your tariffs, then, whatever the number you choose to raise them by, will be added on to the 25% that we charge," United States President Donald Trump told Japan and South Korea in letters released on his Truth Social platform.
These tariffs are set to take effect from August 1, despite continued talks aimed at reaching new trade agreements. Other countries also face heightened levies as Trump seeks to address imbalances. Markets reacted cautiously, with mixed responses across regions.
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