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.

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.