Washington, D.C( The COW News Digital)U.S. President Donald Trump has announced sweeping new tariffs on imports from multiple countries, including major economic partners Japan and South Korea. The decision, made public via Trump’s official social media account, has sent ripples through global markets.
Starting August 1, a 25% tariff will be imposed on goods imported from Japan and South Korea. The announcement follows the earlier extension of the tariff deadline from July 9 to August 1, giving international partners time to adjust or negotiate.
President Trump justified the move by citing “unfair trade practices” and “imbalanced import ratios” that, according to him, have hurt American manufacturing and labor sectors. “These tariffs are designed to protect U.S. industries, encourage fair trade, and stop countries from taking advantage of our markets,” he stated.
Trump also hinted at more tariffs to come if trade deficits are not addressed, especially in the electronics, textiles, and automobile sectors. However, critics warn that the aggressive tariff policy may trigger retaliatory actions from allies and disrupt global supply chains already under stress.
International reactions were swift. Japan’s Ministry of Trade expressed “deep concern,” while South Korea labeled the move “unilateral and protectionist.” Economists believe that the move could lead to inflationary pressure inside the U.S., especially in consumer goods.
With presidential elections approaching, Trump’s tough stance on trade is being seen as a political maneuver to rally his base by appearing strong on economic sovereignty.
As of now, the White House has not clarified whether bilateral talks will precede the tariff implementation. Meanwhile, affected countries are reportedly reviewing possible countermeasures through the World Trade Organization.
