Trump says to impose 25-pct tariffs on Japan, South Korea and other countries

U.S. President Donald Trump announced on Monday via social media that 25 percent tariffs will be imposed on imports from Japan and the Republic of Korea (ROK), respectively, starting August 1.

In his letters addressed to the ROK president and the Japanese prime minister that he posted on Truth Social, Trump said the new tariffs will be separate from all other sectoral tariffs.

In the almost identical letters, Trump said, "Please understand that the 25 percent number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country."

Trump warned that if the two countries raise their tariffs in response, the United States will increase its tariffs by the same amount.

"As you are aware, there will be no Tariff if Korea, or companies within your Country, decide to build or manufacture product within the United States and, in fact, we will do everything possible to get approvals quickly, professionally, and routinely -- In other words, in a matter of weeks," Trump wrote in one of the letters.

The president had previously indicated he would send letters to roughly a dozen countries on Monday.

White House Press Secretary Karoline Leavitt said Monday afternoon that Trump plans to issue an executive order to extend the pause on "reciprocal tariffs" from July 9 to Aug. 1.

Leavitt said about 12 more nations would receive similar notifications, which would also be posted on Trump's Truth Social platform.