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.