U.S. trading partners are weighing up their responses after President Donald Trump’s latest action on tariffs sparked a stock market selloff Monday.

In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.

Facing 25% US tariffs and mounting political and economic pressure, Prime Minister Shigeru Ishiba vows to pursue a balanced trade deal with Washington, as auto sector tensions and upcoming elections complicate talks.