Myanmar and Laos see 40% rate, among slew of levies to take effect Aug. 1
U.S. President Donald Trump released the first batch of letters on July 7 informing countries of the tariff rates their exports to the U.S. will face, starting Aug. 1. © Getty Images
WASHINGTON -- U.S. President Donald Trump released the first batch of letters to its trading partners on Monday, starting with allies Japan and South Korea, notifying them of their new tariff rates with America, beginning Aug. 1.
The president noted that goods from the two countries each will be charged 25% tariffs. The 25% rate marks a 1 percentage point increase for Japan from the initially announced "reciprocal" tariff on April 2, and the same rate for South Korea.
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