President Donald Trump walks on the south lawn of the White House on Sunday in Washington, D.C.

WASHINGTON ― Having successfully slashed health care for poor people and made permanent tax cuts that disproportionately benefit the wealthiest, US President Donald Trump on Monday turned his attention back to his trade war against the world, starting with massive tax increases on Americans who import products from two key allies.

In letters to the leaders of Japan and South Korea, Trump said new 25% taxes will be imposed on their products because of those countries’ “Tariff, and Non Tariff, Policies and Trade Barriers, causing these unsustainable Trade Deficits against the United States.”

Trump added that if those countries choose to raise their tariffs on American goods, Trump would retaliate by increasing the US tariff to 25% on top of whatever tariff rate they imposed.

“Liberation Day II: A tired summer re-run,” said University of Michigan economist Justin Wolfers, using the term Trump invented for April 2, the day he formally announced his tariff scheme against virtually every country in the world. “The trade war is on full force, and the average American will be paying higher taxes on imports than at any point in a........

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