Trump to impose 25% tariffs on Japan and South Korea from August 1  | World News

US President Donald Trump said on Monday that he will impose a 25% tariff on goods imported from Japan and South Korea starting 1 August, according to a report Reuters.
Trump shared letters addressed to the leaders of both countries on his social media platform, where he announced the new trade measures.
Reuters reported that financial markets reacted quickly to the announcement. The US dollar rose against the Japanese yen, trading up 0.95% at 145.95. Meanwhile, major US stock indexes moved lower following the tariff news.
The White House has not yet provided further details about which goods will be affected or the reasons for the new tariffs. Trump has previously said he wants to reduce trade imbalances and protect American industries.