Japan, Trump and South Korea
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bne IntelliNews on MSNJapan, France call for downgrading ties with the US as tariff hikes loomBy Ben Aris in Berlin Japanese Prime Minister Shigeru Ishiba said at the end of last week his country needs to “wean itself from US dependence” in such key areas as security, food and energy. France’s National Assembly also issued a big report that called Europe a US “vassal” and proposed,
President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.
President Trump enacts a 25% tariff on Japanese and Korean goods. Consumers may face price hikes on electronics and machinery as negotiations unfold. Stay informed.
Japan and South Korea, the United States’ closest security allies in Asia and key partners in its effort to counter China, were sent scrambling Tuesday after the U.S. president renewed his threat to impose steep tariffs on their goods,
U.S. stock markets reacted negatively on Monday after President Trump announced via social media that he would unilaterally impose 25% trade tariffs on Japan and South Korea. The tariffs target two of America’s closest allies and key suppliers of autos,
America’s biggest trading partners have tried tactics ranging from appeasement to retaliation to avoid higher tariffs. All find themselves faced with similar threats from Washington.
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.