President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by Aug. 1, while later threatening to hit more than a dozen other nations with steep import duties by next month.

President Trump has told 14 countries that they will face tariffs of at least 25 percent on Aug. 1 if they don’t reach agreements by then.

US President Donald Trump has unveiled letters that threaten to impose higher tariff rates on key trading partners, including levies of 25% on goods from Japan and South Korea beginning Aug. 1. Trump also announced 25% rates on Malaysia and Kazakhstan,