Trump hits Asian nations with tariffs, including allies Japan, South Korea | International Trade News

United States President Donald Trump is set to impose 25 percent tariffs on two key US allies, Japan and South Korea, beginning on August 1 as the administration’s self-imposed deadline for trade agreements of July 9 nears without a deal in place.

On Monday, the Trump administration said this in the first of 12 letters to key US trade partners regarding the new levies they face.

In near-identically worded letters to the Japanese and South Korean leaders, the US president said the trade…