President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by August 1, while also threatening to hit five other nations with import duties of up to 40% by next month.

President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, including levies of 25% on goods from Japan and South Korea,

President Trump‘s barrage of new tariffs drove stocks lower on Monday and moved trade tensions back to the forefront on Wall Street.Trump took to his Truth Social platform Monday afternoon to announce the U.