White House press secretary Karoline Leavitt holds a letter to South Korean President Lee Jae-myung.

She seems very pleased over blatant economic stupidity.

Tariffs Up to 40 Percent

CNN Reports Trump announces new tariffs of up to 40% on a growing number of countries

Those “reciprocal” tariffs were expected to go into effect Wednesday. In some cases, the letters Trump sent specify new “reciprocal” tariff rates that are higher or lower compared to April levels.

Japan’s Prime Minister Shigeru Ishiba and South Korea’s President Lee Jae-myung were the first recipients of Trump’s letters.

Both countries will face a 25% tariff come August 1, Trump said in posts on Truth Social displaying the letters, potentially giving countries more time to negotiate deals. Around two hours later, he announced similar letters were sent to Malaysia, Kazakhstan, South Africa, Myanmar and Laos, informing their leaders of new tariff rates as high as 40%.

Even more letters could be coming: Trump is set to announce “approximately 12 of these letters” on Monday, White House press secretary Karoline Leavitt told reporters at a news briefing. The letters will be announced via social media posts from the president, she said, but declined to preview which countries would be named.

“Please understand that the 25% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,” Trump says in both letters.

“There will be no tariff” if South Korea or Japan or “companies within your Country, decide to build or manufacture product within the United States and, in fact, we will do everything possible to get approvals quickly, professionally, and routinely-In other words, in a matter of weeks,” Trump said in his letters.

He also threatened to raise tariffs higher than 25% if South Korea or Japan retaliated against the United States with tariffs of their own.

Letter to South Korea

You can't make this up:

President Trump is now posting individual "trade letters" to countries with new tariff rates.

So far, Trump has announced a 25% tariff on Japan and 25% tariff on South Korea.

Trump also says he will be raising tariffs on Japan if they raise tariffs on… pic.twitter.com/eEqbcNJB46

— The Kobeissi Letter (@KobeissiLetter) July 7, 2025

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