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.

TOKYO] Japan’s automakers slashed the price of products exported to the US at a record pace, in a sign that companies are sacrificing profits to remain competitive as US President Donald Trump’s tariffs hit cars.

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.

Japanese Prime Minister Shigeru Ishiba said the latest tariff announcement was "truly regrettable." South Korean leaders vowed to accelerate tariff negotiations with the Trump administration to resolve trade uncertainties.