#TrumpTariffs President Donald Trump announced that he plans to impose a series of tariffs on goods imported into the United States from 14 countries, including Japan and South Korea.

The latest escalation in the global trade situation by Trump occurred just as the 90-day pause announced by the White House regarding some of the most aggressive import tariffs was set to expire.

The president announced plans to impose a 25 percent tax on goods imported into the country from Japan and South Korea, and sent a number of other letters to world leaders warning of the imposition of tariffs starting August 1.

Higher tariffs were set to take effect on July 9; however, their implementation was previously suspended as White House officials stated they would seek to reach trade agreements.