The US has announced a 25% uniform tariff on goods from South Korea and Japan starting in August, with exemptions for those who set up factories.

The White House has sent letters to South Korean President Lee Jae-myung and Japanese Prime Minister Shigeru Ishiba, stating that due to long-standing trade deficits and unequal tariff and non-tariff policies, a uniform tariff of 25% will be imposed on all products from South Korea and Japan starting August 1, 2025, separate from the current sector-specific tariff system. The U.S. stated that if South Korean and Japanese companies establish factories in the United States to produce goods, they may be exempt from the tariff, and promised to provide a fast, professional, and routine approval process. [Wu Shuo]