Trump targets South Korea and Japan but delays tariff increases

Donald Trump unveiled plans to step up his trade wars yesterday but delayed increasing tariffs on goods from key economies until the start of next month amid widespread confusion over his strategy.

- Lauren Aratani New York Lisa O'Carroll Brussels

The US president announced Japan and South Korea will face US border taxes of 25% as part of a fresh wave of tariffs to kick in on 1 August, but no rates will rise tomorrow after he extended a previous 90-day hiatus.

Trump, who had indicated that he would notify 14 countries of new, higher rates yesterday, posted copies of letters addressed to Tokyo and Seoul on social media. The White House also confirmed he would sign an executive order extending the pause for the "reciprocal" tariffs first introduced on 2 April - effectively pushing back the deadline of trade talks to 1 August.

White House press secretary Karoline Leavitt, said 12 other countries would receive letters that day, without specifying which, adding that more letters would be sent this week.