CA, US & World
Trump Sends Letters to Allies on Tariffs, Extends Deadline to August 1
President Donald Trump is turning up the pressure on global trading partners, sending letters to several world leaders Monday informing them of new U.S. tariff rates. The move comes alongside a new executive order to delay the start of “reciprocal” tariffs until August 1.
Originally set to begin this Wednesday, the tariffs will now take effect at the start of next month. Trump says the change gives countries more time to negotiate. Some of the letters, posted on Truth Social, indicate new tariff rates of 25% for Japan and South Korea—both key U.S. allies.
According to the White House, additional letters went out to leaders of Malaysia, Kazakhstan, South Africa, Myanmar, and Laos. Tariff rates for some of those countries could reach as high as 40%.
White House press secretary Karoline Leavitt said about a dozen such letters are expected to be released Monday through the president’s social media accounts. She declined to specify which nations will be included.
In letters to Japan’s Prime Minister Shigeru Ishiba and South Korea’s President Lee Jae-myung, Trump emphasized his concern over trade deficits with both nations. The letters suggested that tariffs could be avoided entirely if those countries shift manufacturing operations to the United States. He also warned of additional tariff increases if either country retaliates with its own trade barriers.
Both countries are significant U.S. trading partners. Last year, Japan and South Korea exported roughly $280 billion in goods to the United States while importing $145 billion worth of American goods.
The new tariffs could affect a wide range of goods, including cars, semiconductors, auto parts, pharmaceuticals, and machinery. Trump’s message was clear: retaliatory tariffs will be met with equal or higher penalties.
For example, if South Korea or Japan raise their tariffs by 5%, the U.S. will increase its own tariffs by that same amount, on top of the current 25%. However, the White House confirmed that these new tariffs will be separate from any sector-specific tariffs, such as the current 25% on autos.
Market reaction was swift. U.S.-listed shares of Japanese automakers fell sharply Monday. Nissan Motors dropped more than 7%, while Toyota and Honda lost 4%. The broader U.S. stock market also reacted, with the Dow falling 667 points (1.48%), the S&P 500 dropping 1.19%, and the Nasdaq losing 1.27%.
As of now, the only finalized trade frameworks involve the United Kingdom, Vietnam, and China. Despite Trump’s claim that world leaders are eager to make deals, only minimal progress has been reported in recent months.
This is a developing story and will be updated.
Credit: CNN Newsource
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By: CNN Newsource
July 7, 2025
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