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

President Donald Trump revealed new higher tariff rates for more than a dozen countries after hitting Japan and South Korea first earlier in the day.

President Donald Trump jolted global markets Monday with the announcement that the U.S. will impose a sweeping 25% tariff on all imports from Japan and South Korea beginning August 1. The move, delivered via letters to the leaders of both countries and posted on Truth Social,