While South Korean imports to the U.S. face 25% tariffs, the same as Trump promised in April, the rate on Japan has been raised by 1 percentage point to 25%.

President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.

President Donald Trump sent out letters to nations that haven't entered into trade agreements with the U.S., informing them of their new tariff rates.

The US sets reciprocal tariffs of 25% for Japan and South Korea. Both countries vowed to accelerate negotiations within three weeks.

President Trump announced 25% duties on both South Korea and Japan. The new rates — which aren’t scheduled to take effect until Aug. 1 — track closely with the rates the president first announced on "Liberation Day" in April.

Japanese Prime Minister Shigeru Ishiba on Tuesday said US-imposed tariffs on Japanese imports would have an impact on the country, but added that negotiations would continue.

NewsNation Washington correspondent Kellie Meyer explains that the Trump administration has offered a few weeks' reprieve from the kind of high reciprocal tariffs floated a few months ago. But should trading partners such as Japan fail to come to an agreement by August 1,

Export price index for vehicles shipped to North America plunged 19.4 per cent from a year earlier in June. Read more at straitstimes.com. Read more at straitstimes.com.