Japan, South Korea and Donald Trump
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Trump, tariff
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By Jarrett Renshaw, Bhargav Acharya and Cassandra Garrison WASHINGTON/MEXICO CITY (Reuters) -President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1,
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There is a goods trade deficit with Japan because the U.S. imports more than it exports, which Trump views as a sign of unfairness in the trading arrangements. In 2024, federal trade data shows the U.S. goods trade deficit with Japan was $68.5 billion.
Trump shared screenshots of letters detailing new tariff rates for over a dozen countries, allowing room for further negotiations before the renewed deadline of Aug. 1.
Donald Trump has shared the letters he sent to 14 countries including Japan detailing the levies they face and people have spotted 'appalling' errors.
Trump’s claim that Japan “won’t take” rice from the US isn’t true. The country bought $298 million worth of rice from the US last year, according to US Census Bureau trade data.
Most nations are still negotiating in hopes of avoiding punitive import taxes. At the same time, they’re looking for trading partners as a way around the United States.
The pause on the biggest of Trump's tariffs won't end this week, but the president continues to pledge steep new duties against major countries.
U.S. Secretary of State Marco Rubio met his Japanese and Philippine counterparts in a meeting Thursday on the sidelines of the Association of Southeast Asian Nations’ annual ministerial meetings in Malaysia. The U.S., Japan and the Philippines have been building a trilateral bloc to broaden security and economic cooperation.
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