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The KIPEC Issue Brief series provides timely, concise analysis of major policy and diplomatic developments in Washington, D.C. This inaugural report marks the beginning of the series, which will be published on an ad-hoc basis as needed.

This issue covers the announcement made by the Trump administration on July 7, 2025, regarding a new round of tariffs. President Donald Trump released letters to several world leaders, including South Korean President Lee Jae-myung, indicating that beginning August 1, the U.S. will impose high tariffs on exports from key trading partners. Rather than targeting specific countries, the move appears to be part of a broader trade pressure strategy. While President Trump stated that the decision is “firm, but not 100% firm” he left open the possibility of adjustments based on market reactions. Nevertheless, some tariffs have already been implemented, and the likelihood of more aggressive measures being enforced cannot be ruled out.

Please refer to the attached full report for detailed analysis.