Trump, Asia and tariff
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President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.
TOKYO (Reuters) -Japan's June core inflation likely slowed but remained above the central bank's 2% target, a Reuters poll showed, keeping it under pressure to resume interest rate hikes as U.S. trade tariffs threaten an already fragile economy.
The U.S.’s closest security allies in Asia, along with six Southeast Asian countries, have been given another three weeks to negotiate trade deals — or face higher tariffs.
President Donald Trump on Monday informed Japan and South Korea that 25% tariffs will be imposed starting Aug. 1 on goods sent to the United States.
In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.
President Donald Trump sent out letters to nations that haven't entered into trade agreements with the U.S., informing them of their new tariff rates.