Trump says 25% tariffs coming for Japan and South Korea
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President Donald Trump’s trade wars continue. This week, Trump announced 25% tariffs on Japan and South Korea, set to go into effect on August 1. He also announced tariffs varying from 25% to 40% in countries including Myanmar,
Secretary of State Marco Rubio talks about countering China as it expands its global influence. But President Trump’s tariff threats have created friction with U.S. partners.
Trump said on Tuesday that South Korea should be paying for its own military protection, suggesting the US ally needed to pay more for the US troop presence there, a day after the tariff announcement.
South Korea's parliament approved a supplementary budget on Friday of 31.8 trillion won ($23.3 billion), supporting President Lee Jae Myung's push to bolster an economy grappling with trade headwinds and tepid consumption.