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South Korea, Japan, South Africa respond to US tariff letter

Global Times

By Global Times Published: Jul 08, 2025 11:06 AM

Countries including South Korea, Japan and South Africa have issued their latest reactions in response to US President Donald Trump's announcement of imposing tariffs on imports from multiple countries starting August 1.

Trump said he would increase tariffs on imports from Japan and South Korea to 25 percent starting August 1, further pressuring key allies to strike trade deals with the US. Trump shared the rates some other countries' goods face and extended a pause on steeper tariffs against dozens of other nations to August 1, the New York Times reported.

In nearly identical letters to the president of South Korea and the prime minister of Japan, Trump wrote that the countries would face a 25 percent tax on their exports next month, adding that "we have decided to move forward with you, but only with more balanced, and fair, TRADE," the New York Times reported.

"Please understand that the 25 percent number is far less than what is needed to eliminate the trade deficit disparity we have with your country," he wrote.

A few hours later, the president posted several more letters to social media detailing tariff rates that products from foreign countries would face: 40 percent for exports from Myanmar and Laos, 30 percent for exports from South Africa and 25 percent for exports from Malaysia. He quickly followed with new tariff rates for Thailand, Bangladesh, Indonesia and other countries, the New York Times reported.

South Korea's Industry Ministry said in a statement that the letter effectively extended a grace period on the implementation of reciprocal tariffs by the US, the Reuters reported.

"We will step up negotiations during the remaining period to reach a mutually beneficial result to quickly resolve the uncertainties from tariffs," it said.

The Japanese government is to hold a task force meeting, after President Trump unveiled a letter announcing that the US will charge the country a 25 percent tariff rate starting August 1. Prime Minister Ishiba Shigeru will attend the meeting, the NHK reported.

A senior official of Ishiba's government said it views the letter as effectively extending the pause of what the Trump administration calls reciprocal tariffs, which was set to end on Wednesday, according to the report.

The Japanese official said the government believes there is still room for negotiation, and that it will continue negotiations with the US with the aim of reaching a deal on a whole package, including auto tariffs, NHK reported.

South African President Cyril Ramaphosa said the 30 percent US tariff rate was unjustified given that 77 percent of US goods enter South Africa with no tariffs. Ramaphosa's spokesperson said his government would continue to engage with the US, according to Reuters.

Higher tariffs prompt market worries. US stocks fell Monday as President Trump announced a flurry of tariffs on these countries. The Dow closed lower by 422 points, or 0.94 percent. The S&P 500 fell 0.79 percent and the Nasdaq Composite fell 0.92 percent. The three major indexes posted their worst day in about three weeks. Meanwhile, the early opening Asian stocks started Tuesday flat, the CNN reported.

Economists said the extension of the July deadline would continue to feed the uncertainty that businesses and consumers have been grappling with for months now. The frequent policy changes have led many businesses to put hiring and investment plans on hold, the New York Times reported.