U.S. President Donald Trump has formally issued correspondence to the heads of state of the listed nations, outlining a new schedule of tariff rates that his administration intends to implement beginning August 1st.
Trump informs the President of South Korea, Lee Jae-myung, that they will be paying: “25% on any and all Korean products sent into the United States, separate from all Sectoral Tariffs.
“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge.
“Please understand that these Tariffs are necessary to correct the many years of Korea’s Tariff, and Non-Tariff, Policies and Trade Barriers, causing these unsustainable Trade Deficits against the United States,” part of the letter addressed to President Lee Jae-myung reads.
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