#TrumpTariffs 🇯🇵🇰🇷 1. New 25% Tariffs on Japan & South Korea
President Trump announced today that starting August 1, 2025, a 25% tariff will be imposed on imports from Japan and South Korea—mainly targeting autos, steel, and aluminum—to counter perceived trade imbalances. He cautioned against any retaliatory rates, warning the U.S. may respond in kind .
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🌍 2. Broader Tariff Strategy & Letters
The administration plans to send about 100 warning letters—including at least 12 to major trade partners—outlining potential tariff hikes up to 70%, effective August 1, unless new trade agreements are in place .
Treasury Secretary Scott Bessent clarified that August 1 is not an extension but the firm start date for new rates, which will revert to April 2 levels (20–49%) if no deals are finalized .
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⚠️ 3. BRICS Countries Targeted
Trump also threatened an additional 10% tariff on any nation “aligning with anti‑American BRICS policies,” reinforcing this stance amid the BRICS summit .
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🏛️ 4. Political and Market Reactions
Commerce Secretary Lutnick had to clarify the rollout timing, citing some public confusion from the President .
Market response has been cautious — stock indices dipped slightly, and Treasury yields ticked higher amid growing uncertainty .
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🔍 Context & Legal Backdrop
Recall a May trade court ruling invalidated Trump’s sweeping “Liberation Day” tariffs under emergency powers as overreaching .
The current moves are anchored in reciprocal tariffs (on majors like Japan, South Korea, EU) and those under Section 232 (steel/aluminum) or Section 301 (e.g. China), which remain legally valid .
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✅ What to Watch
Date Event
July 9 Deadline rumored for negotiation pause (but rates kick in Aug 1)
Aug 1 New tariffs go live for non-compliant countries
Ongoing Letters being issued; further country-specific deals likely
