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Nations brace for Trump's tariff hit
Hindustan Times Ranchi
|July 09, 2025
Powerhouse Asian economies Japan and South Korea said on Tuesday that they would try to negotiate with the United States to soften the impact of sharply higher tariffs that President Donald Trump now plans to impose from the start of August.
Trump ramped up his trade tirade again on Monday, telling 14 nations that they would face tariffs ranging from 25% for countries including Japan and South Korea, to 40% for Laos and Myanmar.
However, with the start date pushed back to August 1, those countries were focusing on the new three-week window to press for an easier ride.
Japan wants concessions for its large automobile industry, top trade negotiator Ryosei Akazawa said on Tuesday.
Akazawa said that he held a 40-minute phone call with US Commerce Secretary Howard Lutnick in which the two agreed to actively continue negotiations.
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