President Donald Trump issued separate letters to the president of South Korea and Japan's prime minister on Monday, saying the U.S. will start charging a 25% tariff on Aug. 1. "We must move away from these longterm,

President Donald Trump on Monday placed a 25% tax on goods imported from Japan and South Korea, citing persistent trade imbalances with the two crucial U.S. allies in Asia.

President Donald Trump announced tariffs of 25% on goods from Japan and South Korea beginning on Aug. 1, as he moved to impose unilateral rates on countries that have not yet secured trade deals with his administration.