President Trump on Monday posted a barrage of letters he sent to country leaders, saying he would impose an array of tariffs similar to levels he announced in April. The most significant were letters to the leaders of Japan and South Korea that informed them of 25% tariffs on imports from their respective countries.

U.S. President Donald Trump said on Sunday his administration is close to finalizing several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9. Those rates are scheduled to take effect on August 1, he said.

President Donald Trump and his administration are racing to get trade deals done ahead of a self-imposed deadline, at which point tariffs are set to rise for dozens of countries across the world.

President Trump said Japan and South Korea would face tariffs of 25 percent unless they reached an agreement with the United States. Other countries received notice of higher levies.

Markets fall on Monday after President Trump threatened 14 U.S. trading partners with steep tariffs starting August 1.

America’s largest trade partner is awaiting word on whether U.S. President Donald Trump will impose punishing tariffs on its goods