President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by August 1, while the U.S. also threatened to hit five other nations with import duties of up to 40% by next month.

President Donald Trump said he’ll impose tariffs of 25% on goods from Japan and South Korea beginning Aug. 1, giving the two export powers a narrow three-week window to open their markets to American products and manufacture more in the US to avoid his unilateral levies.

Trump delayed the "reciprocal tariffs" in April, vowing to strike roughly 90 trade deals in 90 days. So far, the White House says it has reached trade agreements with only the United Kingdom and Vietnam, as well as a preliminary accord with China.