Trump threatens 25% tariff of Japan, South Korea

President Trump, quickly after announcing his 10% flat tariff increase on all BRICS members, now threatened a steep 25% tariff increase on Japan and South Korea, two of America's largest trading partners and strategic allies.

South Korean President Yoon Suk Yeol, right, listens to Japanese Prime Minister Fumio Kishida, left, during a press briefing in Tokyo, Japan, per AP News.

On his social media platform Truth Social, President Donald Trump screenshotted the letters he sent to the leaders of Japan and South Korea letting them know of the upcoming tariffs. Letters of this kind have been sent previously by the president to send preemptive notice of new tariff rates and leave the door open for trade negotiations. But, as the president is eager to usher in substantially higher revenues from trade duties, he has become less inclined to be forgiving with the two East Asian economic hegemons, and especially the BRICS members who have put up a united defense against Trump's tariff spree, as shown in their conference Monday.

Trump's excuse: resentment against so-called unfair trade policies on the other end. He alleged that Japan was "spoiled" in levying tariffs on American goods. The president previously signed specific tariffs on Japanese goods, namely automobiles. But, if this tariff was to be implemented, it would become the first ever flat tariff the president implemented on Japan, one of the United States's closest allies.

On Monday, stocks fell because the president threatened a 10% tariff on all goods from the BRICS economic organization. Now, these same stocks have shifted even further down as a result of the new tariff threats on Japan and South Korea. The S&P 500 is down 0.9%, the Dow is down 1.13%, and the Nasdaq is down 1.01%, as of 1.44 PM (Yahoo Finance).