On Wednesday, U.S. President Donald Trump launched a full-scale trade war.
On the same day, Trump announced plans to impose reciprocal tariffs of around 30% on three Northeast Asian countries—25% on South Korea, 34% on China, and 24% on Japan.
Trump also declared tariffs of 32% on Taiwan, 26% on India, and 20% on the European Union.
During yesterday’s press conference, Trump sharply criticized South Korea’s automotive market.
He claimed that trade barriers have resulted in 81% of cars sold in South Korea being domestically produced.
Trump asserted that Japan’s situation is even more concerning.
According to Trump, 94% of vehicles sold in Japan are made domestically.
He highlighted the imbalance in auto trade, noting that while Toyota sells one million foreign-made cars in the U.S., General Motors (GM) struggles to sell any in Japan, and Ford sees only minimal sales.
In a sweeping critique of U.S. allies, Trump declared that, in trade, “Allies Often Worse Than Enemies.”
