<ul data-eligibleForWebStory="false"><li>US President Donald Trump has re-imposed 25% tariffs on Japan and South Korea, two key trading partners, effective from Aug. 1.</li><li>If Japan and South Korea retaliate, additional tariffs will be added. Trump exempted South Korean and Japanese companies operating in the US from these tariffs.</li><li>Earlier tariffs on Japan (24%) and South Korea (25%) were paused in April but have been reinstated now as a part of Trump's reciprocal levies policy, giving room for further negotiations.</li><li>The decision to impose tariffs starting Aug. 1 suggests a possibility for continued negotiations with other trading partners to strike trade deals, as only China, the UK, and Vietnam have agreements in place so far.</li></ul>

Tariffs Return: Trump Hits Japan, South Korea With 25% Import Levies

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