Washington: U.S. President Donald Trump on Wednesday heightened his stance on international trade by threatening to impose "much higher tariffs" on trading partners that do not open their markets. The move comes as countries like South Korea are in the midst of intense negotiations with the U.S. administration, aiming to finalize trade agreements before the looming August 1 deadline.According to Yonhap News Agency, Trump's comments were made in a social media post following the announcement of a new trade deal with Japan. Under this agreement, the United States will apply 15 percent "reciprocal" tariffs on Japanese goods entering the U.S. market, a rate that is 10 percentage points lower than initially announced. This new development marks a significant shift in the trade relations between the two countries.Trump's post on Truth Social was unequivocal in its message, stating, "I WILL ONLY LOWER TARIFFS IF A COUNTRY AGREES TO OPEN ITS MARKET," and warned, "IF NOT, MUCH HIGHER TARIFFS! Japan's Markets are n ow OPEN (for first time ever!). USA BUSINESSES WILL BOOM!." This statement underscores the administration's strategy of leveraging tariffs to compel other nations to reduce trade barriers for American exports.The pressure is particularly intense for South Korea, which is striving to avoid the imposition of 25 percent reciprocal tariffs, in addition to specific tariffs targeting key sectors such as steel, aluminum, and automobiles. These potential tariffs pose a significant threat to South Korea's export-driven economy, prompting the government to make concerted efforts to negotiate favorable terms with the United States.
- June 29, 2026
