President Trump is escalating the trade war by implementing new 25% tariffs on Japan and South Korea, effective August 1. He indicated these tariffs are crucial to address longstanding tariff and non-tariff policies that have contributed to trade deficits. Trump asserted that such deficits threaten both the economy and national security of the United States. He warned that any increase in tariffs from these countries would result in additional charges on top of the 25% tariff imposed by the U.S.
President Trump announced new tariffs on trade with South Korea and Japan, implementing a 25% tariff set to take effect on August 1.
He stated that these tariffs are necessary to correct Japan's trade policies and barriers causing unsustainable trade deficits against the U.S.
Trump warned that if either country raises their own tariffs, those will be added to the 25% charged by the U.S.
He emphasized that the trade deficit poses a major threat to the U.S. economy and national security.
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