Title: White House Prioritizes Japan and South Korea in Tariff Talks
Summary: Shared by Binanceโs official account on April 8, this post (via BlockBeats) states that White House economic adviser Kevin Hassett confirmed Japan and South Korea are being prioritized in ongoing tariff negotiations .
โ ๏ธ Note: That April post reflects ongoing negotiations, not the July 7 tariff decision. It's older context, not about the new 25% tariffs.
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โ๏ธ Breaking: 25% Tariffs Imposed
Hereโs what the recent news says:
On July 7, 2025, President Trump announced via letters on Truth Social that 25% tariffs on all imports from Japan and South Korea will take effect August 1 .
Additional tariffs include up to 40% on goods from countries like Myanmar and Laos .
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๐ Global and Market Impact
Markets plunged: S&P 500 saw nearly 0.8%โ0.9% decline, and Asian markets (Nikkei, Kospi) also fell .
Pressure mounts: Japan and Korea are racing to finalize negotiations to avoid triggering tariffs .
Crypto markets also slipped, with Bitcoin, Ethereum, and Dogecoin dipping on macro-economic jitters .
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๐ Summary Table
Item Details
Tariff Rate 25% on imports from Japan & South Korea
Effective Date August 1, 2025
Reason Cited Addressing trade imbalances; boosting U.S. manufacturing
Preliminary Negotiations This builds on previous discussions, including those noted by Binanceโs April post
Market Reaction Decline across U.S. and Asian stock indexes; crypto saw mild sell-offs
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Would you like a deeper dive into how this affects specific industries (like semiconductors or autos), how Japan and South Korea might respond, or what crypto investors should watch for? Just let me know!
