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.

Trump imposes tariffs up to 40% on 14 countries, pressuring allies to shift production to the US and avoid ties with BRICS. Tensions mount globally.

President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.