Trump says 25% tariffs coming for Japan and South Korea as trade war escalates again President Donald Trump sent out letters to nations that haven't entered into trade agreements with the U.S ...

Donald Trump has said he will impose 25 per cent tariffs on imports of goods from Japan and South Korea, in an announcement that sent US stocks sliding. The president on Monday said the new levies on both countries would come into effect on August 1. Trump has vowed to announce tariff rates for dozens of other trading partners in coming days.

Asian shares rose Tuesday after stocks on Wall Street closed broadly lower as the White House stepped up pressure on major trading partners to make deals before punishing tariffs imposed by the U.S. take effect.

The president has already threatened an additional 10% tariff on goods from countries aligning themselves with a bloc of nations that includes China and Russia.

South Korea is seeking to extend a looming tariff grace period tied to US President Donald Trump's reciprocal tariff policy. South Korea's Trade Minister Yeo Han-koo traveled to Washington last week to present what officials describe as a "technology-driven framework" aimed at reshaping the conversation around tariffs into one of strategic industrial cooperation.

US President Donald Trump on Wednesday threatened Brazil with a crippling tariff of 50% starting August 1, according to a letter he sent to the country’s president, Luiz Inácio Lula da Silva.