U.S. trading partners are weighing up their responses after President Donald Trump’s latest action on tariffs sparked a stock market selloff Monday.The White House sent letters yesterday to about a dozen countries laying out the rates at which imports would be taxed—ranging from 25% to 40%—if no other trade agreements are reached.

By Jeff Mason, Bart H. Meijer and David Brunnstrom WASHINGTON/BRUSSELS (Reuters) -U.S. President Donald Trump on Monday began telling trade partners – from powerhouse suppliers like Japan and South Korea to minor players – that sharply higher U.