Washington, July 7 -- US President Donald Trump announced on Monday that his administration would impose a 25 per cent tariff on imports from South Korea and Japan, effective August 1, The Hill reported.

Trump has shared details regarding expected tariff rates in letters to the South Korean President and the Japanese Prime Minister. He shared details regarding tariffs on his social media platform, Truth Social, as well. Previously, Trump indicated he would send letters to several nations on Monday.

"Please understand this 25 per cent number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country," Trump wrote to the two nations, The Hill reported.

Trump warned that if either nation increased i...