The U.S. imposes 25% tariffs on Japan and South Korea, igniting global trade tensions. With letters sent and 12 more nations warned, markets tumble and diplomatic drama unfolds. What’s next? Will allies strike deals or retaliate? Stay tuned for the fallout.
00:00I have the signed letters that went out to both South Korea and Japan today, and there will be approximately 12 other countries that will receive notifications and letters directly from the President of the United States.
00:12And weeks ago, I stood at this podium and I told all of you that the President was going to create tailor-made trade plans for each and every country on this planet, and that's what this administration continues to be focused on.
00:24The President will also sign an executive order today delaying the July 9th deadline to August 1st, so the reciprocal tariff rate or these new rates that will be provided in this correspondence to these foreign leaders will be going out the door within the next month, or deals will be made, and those countries continue to negotiate with the United States.
00:43We've seen a lot of positive developments in the right direction, but the administration, the President, and his trade team want to cut the best deals for the American people and the American worker.
00:54That's what they're focused on.
00:55I want to go back to the trade deals.
00:57As you see, we have these beautiful letters that the President has signed.
01:00This one is to the President of the Republic of Korea, original signature on that, and these will be mailed.
01:07And then here we also have another letter to the Prime Minister of Japan as well.
01:13Both countries will be receiving a 25% tariff rate, effective on August 1st.
01:18The President announced last night that any countries aligning themselves with the anti-American policies of BRICS will be charged with an additional 10% tariff.
01:28Can you tell us more details on that?
01:29What specific policies is the President talking about here?
01:32What policies should countries stay away from to avoid being subject to additional tariffs?
01:37Well, the President feels, generally speaking, that BRICS is seeking to undermine the interests of the United States.
01:42It's the President's utmost responsibility to put the interests of the United States first.
01:46That's how he views his job as President.
01:48So he's going to ensure that America is fairly treated on the world stage,
01:52and he'll take any action necessary to prevent countries from taking advantage of the United States and our people.
01:58Thank you, guys.
01:58I have the signed letters that went out to both South Korea and Japan today,
02:03and there will be approximately 12 other countries that will receive notifications and letters directly from the President of the United States.
02:11And weeks ago, I stood at this podium and I told all of you that the President was going to create tailor-made trade plans
02:19for each and every country on this planet, and that's what this administration continues to be focused on.
02:24The President will also sign an executive order today delaying the July 9th deadline to August 1st.
02:29So the reciprocal tariff rate or these new rates that will be provided in this correspondence to these foreign leaders
02:35will be going out the door within the next month, or deals will be made.
02:39And those countries continue to negotiate with the United States.
02:42We've seen a lot of positive developments in the right direction, but the administration, the President,
02:48and his trade team want to cut the best deals for the American people and the American worker.
02:53That's what they're focused on.
02:55I want to go back to the trade deals.
02:56As you see, we have these beautiful letters that the President has signed.
02:59This one is to the President of the Republic of Korea.
03:03Original signature on that.
03:05And these will be mailed.
03:06And then here we also have another letter to the Prime Minister of Japan as well.
03:13Both countries will be receiving a 25% tariff rate effective on August 1st.
03:17The President announced last night that any countries aligning themselves with the anti-American policies of BRICS
03:24will be charged with an additional 10% tariff.
03:27Can you tell us more details on that?
03:29What specific policies is the President talking about here?
03:31What policies should countries stay away from to avoid being subject to additional tariffs?
03:36Well, the President feels, generally speaking, that BRICS is seeking to undermine the interests of the United States.
03:42It's the President's utmost responsibility to put the interests of the United States first.
03:46That's how he views his job as President.
03:48So he's going to ensure that America is fairly treated on the world stage.
03:52And he'll take any action necessary to prevent countries from taking advantage of the United States and our people.
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