Goods from Japan and South Korea hit with 25% levy
The United States plans to impose a 25% tax on the products entering the country from South Korea and Japan on August 1, President Donald Trump said.
He announced the prices in an article on social networks, sharing letters which, according to him, had been sent to the leaders of the two countries.
The White House said it expects to send similar messages to many other countries, because the 90 -day break it had placed on some of its most aggressive prices should expire.
The first two letters suggest that Trump remains attached to his initial thrust for prices, with little change compared to the prices announced in April.
At that time, he said that he was trying to hit goods from Japan with 24% tasks and to charge 25% on products made in South Korea.
These prices were included in a greater announcement of the “Liberation Day”, which imposed new taxes on goods from countries around the world – with goods from certain countries facing withdrawals of more than 40%.
After outcry and financial markets after the initial announcement of the prices, Trump suspended some of the highest import taxes to allow talks, while keeping a 10%sample.
The window for negotiations to avoid upper tasks should expire on July 9. Trump said he was planning to start invoices prices on August 1, extending this deadline.
On Monday, the secretary of the Treasury, Scott Bessent, said that he expected “a few busy days”.
“We had a lot of people to change their melody in terms of negotiations. So my mailbox was complete last night with a lot of new offers, many new proposals,” he told Us Business Broadcaster CNBC.
Trump had initially described his April prices as “reciprocal”, saying that they were required to combat the commercial rules of other countries which he considered as unfair exports to us.
He announced the prices for key sectors separately, such as steel and cars, citing national security problems, and threatened them for other areas, such as pharmaceutical and wood products.
Multilayed policies have complicated trade discussions, with the prices of the car, a key snack in negotiations with Japan and South Korea.
So far, the United States has concluded agreements with the United Kingdom and Vietnam, as well as a partial agreement with China. In these three cases, the agreements have raised prices, while key questions are not resolved.
The European Union (EU) would also be in talks that would maintain a provisional tax of 10% for most goods shipped to the United States beyond the deadline.
But it also seeks to reduce the 25% price of Trump on cars and parts, and a 50% tax on steel and aluminum.
A spokesman said on Monday that the president of the European Commission Ursula von der Leyen had a “good exchange” with Trump. Barely a few weeks ago, the American president threatened the EU with a 50% tax unless it arrives at an agreement.
Last week, Trump said Japan could face a “30% or 35%” rate if the country had not entered into an agreement with the United States on Wednesday.
