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 on Monday placed a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on Malaysia, Kazakhstan, South Africa, Laos and Myanmar.

President Donald Trump cranked up the pressure on two of America’s key trading partners, Japan and South Korea, firing off letters Monday to the heads of their countries that informed them of their new tariff rate.