Trump Escalates Trade War: 25% Tariffs on Japan, South Korea and Others From August

Fourteen nations have received formal notices, ranging from major suppliers like Japan and South Korea to smaller exporters such as Serbia, Thailand, and Tunisia. The letters leave room for renegotiation but warn of "reciprocal escalation" if retaliatory measures are taken. "If you decide to raise tariffs, whatever the amount, we will add that number directly to our existing 25%," Trump wrote in public letters to Japanese and South Korean leaders, posted on his Truth Social platform.

The tariffs, to be borne by U.S. importers, take effect August 1 and will not stack with existing sector-specific duties on autos, steel, and aluminum. For example, Japanese car exports to the U.S. will remain subject to the 25% rate, not rising to 50% on top of current auto tariffs.