Asia number one target of Trump’s tariff letters
US President Donald Trump has issued a deadline of August 1st for 14 countries, mostly in Asia, to reach trade agreements or face increased import tariffs. This follows a 90-day postponement in April. Countries with significant trade surpluses with the US, such as Japan, South Korea, Thailand, and Indonesia, are primary targets. South Korea, facing a potential 25% tariff hike, remains optimistic about reaching a deal. Japan, a key US ally, faces a 25% tariff on its auto industry, a reduction from previously threatened higher rates.
