The Trump administration is poised to implement a new wave of tariffs, potentially reaching 50% for certain nations, effective August 1st. This move underscores President Trump's strategy of using tariffs as leverage to secure international concessions and reshape global trade relations.

US President Trump sent letters to several countries, including close allies Japan and South Korea, imposing tariffs starting August 1. Japanese PM Ishiba said he wanted to reach a deal which worked for both nations.

Most of the tariff rates, shared on his Truth Social platform ... For many of the nations, engaging Trump in trade negotiations on his accelerated timeline has proven difficult. Even though Japan and Korea are two of the US’s closest allies in Asia ...