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US to Impose 25% Tariffs on Japan and South Korea as EU Awaits 10% Duty Decision

Looming EU tariff decision compounds business paralysis ahead of Washington’s fixed August 1 duties on Asian imports.

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Overview

  • President Donald Trump has confirmed a 25% tariff on Japanese and South Korean imports effective August 1.
  • The administration will decide within hours whether to apply a 10% tariff on European Union goods if current talks collapse.
  • Uncertainty over potential US duties is forcing European firms to delay investment plans and rework supply chains.
  • Use of emergency trade powers has provoked World Trade Organization disputes and domestic legal challenges.
  • Repeated deadline extensions and last-minute announcements have intensified market volatility and strained transatlantic relations.