Trump steps up pressure for deals as US tariff deadline nears
US President Donald Trump unveiled higher tariffs for Japan, South Korea and a dozen other countries in a push for new trade deals Monday -- but extended the deadline for the steeper levies to kick in until August.
Trump issued similar letters to countries including Indonesia, Bangladesh, Thailand, South Africa and Malaysia, saying he would slap duties on their products ranging from 25 percent to 40 percent.
These mark a step up from the 10 percent levy the president earlier imposed on almost all trading partners.
But the starting date of August 1 marks a delay in Trump's reimposition of higher duties, originally due Wednesday.
In near-identically worded letters to Japanese and South Korean leaders, Trump said US tariff hikes to 25 percent came as their trading relationships with Washington were "unfortunately, far from Reciprocal."
He warned of further escalation if there was retaliation against the levies.
But the president said he was ready to lower the new levels if partners changed their trade policies: "We........
© Al Monitor
