President Donald Trump said the United States will levy a 25% tariff on all goods imported from Japan and South Korea beginning Aug. 1. The decision was conveyed in near-identical letters he posted to his Truth Social account and simultaneously sent to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung. In the letters, Trump wrote that the trade relationships with the two allies are “far from reciprocal” and warned that any retaliatory tariff increases by Tokyo or Seoul would be matched by an equivalent addition on top of the 25% duty. The move marks the first of several tariff notices the White House says will be issued to trading partners that have not reached new agreements with Washington. The measures deepen Trump’s broader effort to rewrite U.S. trade terms through unilateral levies. The United States ran 2024 goods-trade deficits of about $69 billion with Japan and $66 billion with South Korea, according to Census Bureau data. Markets fell on the news, underscoring investor concern that the new duties—along with higher rates of up to 40% planned for other countries—could unsettle global supply chains and add fresh inflationary pressure.