Trump announces reciprocal tariff rates on Japan, South Korea, and other countries
As the 90-day suspension period is about to end, US President Trump has begun to announce tariff rates on imports from specific countries, with the new rates taking effect on August 1, some differing from those previously announced.
U.S. President Donald Trump began unveiling the tariff rates the United States will impose on imports from certain countries as the 90-day pause on country-specific tariffs approaches its expiration.
Trump outlined these rates in identical letters to leaders of countries including Japan, South Korea, and South Africa, shared on Truth Social on Monday (July 14). The rates range from 25% to 40%.
Country-specific reciprocal tariffs are scheduled to take effect on August 1
Among the new tariffs, some differ from the original rates set in the reciprocal tariffs he announced in April and will take effect on August 1. Trump and Treasury Secretary Scott Bessent indicated in comments over the weekend that a similar timeline would be followed.
Trump also said the United States will match any retaliatory tariffs, and any increases will be stacked on top of the rates detailed in the letters to each country. The president also hinted that tariffs could be reduced if countries provide greater market access to the United States and/or eliminate certain tariffs and other trade policies.
"These tariffs may be adjusted upward or downward based on our relationship with your country," Trump said in each letter.
On Monday, Trump also signed an executive order extending the 90-day pause on country-specific reciprocal tariffs, which was set to expire on Wednesday. Under the order, tariff implementation will be delayed until August 1. The new timeline does not affect tariffs on China, which will remain reduced until mid-August under a separate agreement reached in May.
Before the pause ended, Trump said he had reached agreements with three countries—China, the United Kingdom, and Vietnam—on tariffs and other trade activities.
However, while the specific terms of the UK agreement have been signed, the China agreement still requires approval from both countries, and Vietnam has not yet confirmed its deal with the United States.