Tariffs Return: Trump Hits Japan, South Korea With 25% Import Levies

US President Donald Trump has re-imposed tariffs on Japan and South Korea—two of America's key trading partners—as he levied 25% import duties on both the Asian economies.

The tariffs will come into effect from Aug. 1, according to a White House note uploaded by Trump on social media platform Truth Social.

Trump has threatened that if Japan and South Korea retaliate, the same amount will be added to the 25% tariffs levied on both the countries, he said.

The US president also noted that trans-shipped goods from South Korea and Japan will be slapped with higher tariffs.

Trump, however, offered reprieve to South Korean and Japanese companies manufacturing in the US, stating that no tariffs will be levied on such manufacturers.

Notably, Japan was hit with 24% tariffs and South Korea with 25% on April 3, when Trump had first unveiled his so-called reciprocal levies against all trading partners.

The tariffs were paused a week later, as Trump offered a 90-day reprieve to most trading partners to strike a trade deal with the US.

Trump had, in recent days, warned that the tariffs will be reimposed on all the trading partners who fail to reach a trade agreement with the US before the July 9 deadline ends.

However, the decision to implement the tariffs from Aug. 1 indicates that the Trump administration has left room for further negotiations with the trading partners with whom a trade pact is yet to be sealed, analysts said.

So far, only China, the United Kingdom and Vietnam are among the major US trading partners that have announced trade deals with the country. The move has led to a reduction of tariffs on the three countries, but not eliminated them entirely.