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President Trump is now posting individual "trade letters" to countries with new tariff rates.
So far, Trump has announced a 25% tariff on Japan and 25% tariff on South Korea.
Trump also says he will be raising tariffs on Japan if they raise tariffs on the US in retaliation.
Meanwhile, the S&P 500's losses are accelerating to -1% on the day.
Did trade war part 2 begin?
