Trump announces up to 40% tariffs on 7 nations, set to take effect August 1 (1 Viewer)

[Politics - CBSNews.com]

President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by August 1, while also threatening to hit five other nations with import duties of up to 40% by next month.

Mr. Trump posted two nearly identical letters, addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung, on his Truth Social media platform outlining the new tariffs. A 90-day freeze on country-specific U.S. tariffs on dozens of nations, including Japan and South Korea, is scheduled to expire on July 9.

Mr...

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