Trump Announces 25% Tariffs on South Korea and Japan
U.S. President Donald Trump announced today that the United States will impose 25% tariffs on steel and aluminum imports from South Korea and Japan. The decision, which will impact approximately $50 billion worth of imports from each country, is a response to what the president describes as a national security concern. Both countries have vowed to respond in kind, with South Korea announcing its intention to impose equivalent tariffs on $1.03 billion worth of U.S. goods and Japan promising to impose tariffs on $2.4 billion worth of U.S. goods. The tariffs are expected to exacerbate tensions with our allies, who are concerned about the potential impact on global trade.
