[영어뉴스 직독직해] Trump Escalates Trade War with 25% Tariffs on Japan and South Korea

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[영어뉴스 직독직해] Trump Escalates Trade War with 25% Tariffs on Japan and South Korea

 

 

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Trump Escalates Trade War with 25% Tariffs on Japan and South Korea

U.S. President Donald Trump announced that beginning August 1, all imports from Japan and South Korea will be subject to a 25% tariff, intensifying a global trade war that began earlier this year. In letters sent to 14 countries, including smaller trade partners like Tunisia, Thailand, and Serbia, Trump warned that any retaliatory tariff actions would result in an equal or higher response from the U.S. The letters, made public via Trump's Truth Social platform, emphasized a "take it or leave it" stance, although he left a window open for negotiation by extending the deadline for trade deals to August 1.

 

The new tariffs will not be stacked on top of previous sector-specific tariffs (e.g., on automobiles or steel), but they still rattled global markets. The S&P 500 saw its sharpest drop in three weeks, and shares of major Japanese automakers like Toyota and Honda fell significantly. The South Korean government responded by pledging to intensify talks with the U.S., seeing the extended deadline as a chance to resolve the dispute. Japan has not issued an official response yet. Meanwhile, Trump also imposed new tariffs ranging from 25% to 40% on countries like Laos, Myanmar, South Africa, and Bangladesh, while threatening BRICS nations with additional penalties for "anti-American" policies.

 

The European Union has not received a tariff letter and is pursuing its own deal with the U.S. before the same August 1 deadline. While only the UK and Vietnam have reached agreements so far, countries are rushing to negotiate in hopes of avoiding economic fallout. Treasury Secretary Scott Bessent said his office has been flooded with trade proposals as the deadline approaches. Despite the market uncertainty and diplomatic tensions, Trump appears committed to using tariffs as leverage to restructure global trade relationships, even with long-time allies.

 

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https://contents.premium.naver.com/insightcafe/knowledgenews/contents/250708105849328wg

[영어뉴스 직독직해] Trump Escalates Trade War with 25% Tariffs on Japan and South Korea