Trump to put 25% tariffs on Japan and South Korea
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Trump provided notice of the tariffs to begin on Aug. 1 by posting letters on Truth Social that were addressed to the leaders of both countries. The letters warned both countries to not retaliate by increasing their own import taxes, or else the Trump administration would increase import taxes that could damage the auto and electronics sectors of Japan and South Korea, two crucial partners for the U.S. in countering China's influence.
'If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge,' Trump wrote in the letters to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung.
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Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account In the last week, Trump has slapped trading partners with tariffs rather than slog through prolonged talks to reach agreements. He ratcheted up the pressure on the Federal Reserve to cut interest rates. And his administration launched a new investigation into higher education as he tries to reshape universities. For Trump, a deal isn't necessarily agreement in which two sides compromise — it's an opportunity to bend others to his will. While Trump occasionally backs down from his threats, the past week is a reminder that they are a permanent feature of his presidency. As Trump tightens his grip on independent institutions, there are fewer checks on his power. 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The money is the lifeblood of the university's sprawling research operation, which includes studies on cancer, Parkinson's disease, space travel and pandemic preparedness. Trump has also attempted to block Harvard from hosting roughly 7,000 foreign students, and he's threatened to revoke its tax-exempt status. His administration recently sent subpoenas asking for student data. 'They'll absolutely reach a deal,' Trump said Wednesday. This advertisement has not loaded yet, but your article continues below. Read More Administration officials also pulled $175 million from the University of Pennsylvania in March over a dispute around women's sports. They restored it when school officials agreed to update records set by transgender swimmer Lia Thomas and change their policies. Columbia University bent to Trump by putting its Middle East studies department under new supervision, among other changes, after the administration pulled $400 million in federal funding. At the University of Virginia, President James Ryan resigned under pressure following a Justice Department investigation into diversity, equity and inclusion practices. A similar investigation was opened Thursday at George Mason University. This advertisement has not loaded yet, but your article continues below. 'Federal funding is a privilege, not a right, for colleges and universities,' said Kush Desai, a White House spokesman. Such steps were unheard of before Trump took office. Ted Mitchell, president of the American Council on Education and an Education Department official under President Barack Obama, said Trump isn't seeking deals but is 'demanding more and more and more.' 'Institutional autonomy is an important part of what makes higher education work,' he said. 'It's what enables universities to pursue the truth without political considerations.' Going after the Federal Reserve's independence The Fed has also faced Trump's wrath. 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He's sent letters to two dozen nations and the European Union informing them of their tariff rates, such as 30% against the EU and Mexico, potentially undercutting the work of his own negotiators. This advertisement has not loaded yet, but your article continues below. Desai said Trump's approach has generated 'overwhelming interest' from other countries in reaching trade deals and gives the U.S. leverage in negotiations. John C. Brown, a professor emeritus of economics at Clark University in Massachusetts, said the 'willy-nilly setting of tariffs according to one person's whims has no precedence in the history of trade policy since the 17th century.' 'It's just bizarre,' Brown said of Trump's moves. 'No one has done this in history.' The president has also used the threat of tariffs in an attempt to help political allies and influence other countries' court systems. 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