https://www.taxtmi.com/news?id=48711 The administration issued letters notifying Japan and South Korea that certain goods will face a 25 percent duty effective August 1, superseding a prior lower baseline tariff applied during a 90 day negotiating period. The letters state that any increase in partner tariffs would be met by additive US duties and that failure to reach deals before the pause expires will trigger the prescribed punitive rates. The framework allows bilateral agreements to alter treatment, as shown by a distinct deal with Vietnam. en-us Tue, 08 Jul 2025 02:01:03 +0530 Tue, 08 Jul 2025 02:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=48711 The administration issued letters notifying Japan and South Korea that certain goods will face a 25 percent duty effective August 1, superseding a prior lower baseline tariff applied during a 90 day negotiating period. The letters state that any increase in partner tariffs would be met by additive US duties and that failure to reach deals before the pause expires will trigger the prescribed punitive rates. The framework allows bilateral agreements to alter treatment, as shown by a distinct deal with Vietnam. News - Tue, 08 Jul 2025 02:01:03 +0530 https://www.taxtmi.com/news?id=48711