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.

Japan, which Trump said Monday faces a 25% tariff, wants concessions for its large automobile industry and will not sacrifice its agriculture sector for an early deal, top trade negotiator Ryosei Akazawa said.

President Donald Trump announced on Monday that he is levying tariffs against South Korea and Japan beginning in August. Trump

Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on 14 trading partners, with the highest rate of 40 per cent imposed on Myanmar and the Lao People's Democratic Republic.

President Donald Trump will impose 25% tariffs on imports from Japan and South Korea, just two days before a pause on his "liberation day" duties is set to expire. Trump released screenshots of letters announcing the new tariffs on his social media platform Truth Social on Monday,

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 nations that would go into effect on Aug. 1. Trump provided notice by posting letters on Truth Social that were addressed to the leaders of the various countries.

Sharing screenshots to Truth Social, the president revealed blanket tariffs on imports from Japan, South Korea and 12 other countries if they do not reach new trade deals with the United States by August. The steep duties range from 25% to 40% on all imported goods and were announced via letters sent to the leaders of each country.

Trump uses tariffs as a key tool to force changes to U.S. trade relationships, but his on-again-off-again approach has roiled markets and stoked uncertainty.