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,

By Jeff Mason, Bart H. Meijer and David Brunnstrom WASHINGTON/BRUSSELS (Reuters) -U.S. President Donald Trump on Monday began telling trade partners - from powerhouse suppliers like Japan and South Korea to minor players - that sharply higher U.

WASHINGTON — U.S. markets saw steep drops as President Donald Trump began announcing unilateral 25% tariffs on all imports from key trading partners Japan and South Korea shortly after noon Monday. Hours later, he announced additional tariffs ranging from 25% to 40% on Kazakhstan, Laos, Malaysia, Myanmar and South Africa.

Trump’s initial global reciprocal tariffs unveiled on April 2 ranged from 10% to 49%, including 49% on Cambodia, 25% on South Korea, 24% on Japan, 32% on Taiwan and 26% on India.

President Donald Trump announced on Monday that he is levying tariffs against South Korea and Japan beginning in August. Trump announced in two separate posts to Truth Social that the two countries will each face a 25% tariff beginning on August 1.