On Wednesday, President Donald Trump declared that he would only lower tariffs if specific countries agreed to open their markets during trade talks; otherwise, he would impose even steeper tariffs.
Trump stated on his social media platform, Truth Social, that he will reduce tariffs only if certain countries agree to open their markets. Further adding that if not, he will impose much steeper tariffs.
He added that Japan’s market is now open for the first time, and American businesses will thrive.
In a previous post, Trump asserted that if major countries open their markets to the U.S., he’s ready to drop tariff points at any time. He stated that without tariffs, it would have been impossible to get other countries to open their markets. He emphasized that tariffs on the U.S. will always be 0%.
In another post, Trump highlighted that Indonesia has agreed to fully open its market to the U.S. for the first time—a huge win. Further adding that its companies will reap significant benefits and the same applies to Japan.
Earlier, he wroteabout when Japan has opened its market to the U.S. for the first time. Cars, sport utility vehicles (SUVs), trucks, everything—even agriculture, which had always been considered off limits.
He argued that an open Japanese market could be as valuable as the tariffs themselves, but this achievement was secured through tariffs.
Trump also revealed that they have agreed to purchase billions in military and other equipment. He added that they have committed to paying 90% of 550 billion USD, with more to come.
Trump’s posts, touting successful trade deals with Japan and Indonesia, appear designed to pressure countries such as South Korea, India, Canada, Mexico, and the European Union (EU)—which have yet to reach agreements—before mutual tariffs take effect on August 1. It also seems he is showcasing these achievements to his Make America Great Again (MAGA) base and U.S. industries.
The Trump administration is urging South Korea, which is currently facing a 25% mutual tariff, to further open its market to agricultural products like rice and beef and to participate in the development of Alaska’s gas fields.
South Korea aims to minimize both mutual tariffs and tariffs on specific items such as automobiles and steel.
The Lee Jae-myung administration, having finalized its cabinet, has urgently dispatched key economic and security officials to Washington, D.C., including Director of the National Security of South Korea Wi Sung-lac, Minister of Trade, Industry and Energy of Government of South Korea Kim Jeong-kwan, and Minister for Trade Yeo Han-Koo, to expedite negotiations.
Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol will arrive in Washington, D.C. on Thursday. The following day, he and Minister Kim will resume the 2+2 high-level trade talks involving the finance and trade chiefs of both countries.
Bipartisan members of the Korea-U.S. Congressional Friendship Association are also meeting with pro-Trump U.S. lawmakers and State Department officials to explain South Korea’s stance and support the trade negotiations.
