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.

President Donald Trump extended his "Liberation Day" tariff pause and sent letters to trading partners announcing new tariff rates for Aug. 1.

President Donald Trump has announced that the European Union and Mexico will face a 30% tariff on imports to the US from 1 August. He warned he would impose even higher import taxes if either of the US trading partners decided to retaliate.

Leaders from both economies had been trying to negotiate more favorable terms, only to have those efforts blown up by form letters.

Donald Trump's insistence that "spoiled" Japan imports more US rice is adding to Prime Minister Shigeru Ishiba's problems ahead of elections that could sink his premiership after less than a year in office.

The U.S. will put in place a 25% tariffs on imports from Japan and South Korea starting on Aug. 1, according to letters posted by President Donald Trump on his social media platform on Monday. Trump wrote to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung to inform them of the news, citing unfair trade balances.

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The pause on the biggest of Trump's tariffs won't end this week, but the president continues to pledge steep new duties against major countries.