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 ’s latest executive order delaying official tariff increases on dozens of countries until Aug. 1 has relieved some pressure on world markets, but he also ordered a 25% tax on goods imported from Japan and South Korea,

The president noted that U.S. negotiators remained open to offers from trading partners, suggesting that tariffs could be reduced by — or even after — the deadline on Aug. 1.