#TrumpTariffs Trump announced over the weekend that, starting Monday, he would send a first batch of up to 15 letters to countries to inform them of the reimposition of the severe tariffs he had postponed in April.

In two virtually identical letters, Trump stated that the new tariffs would take effect on August 1 since trade relations are "unfortunately far from being reciprocal".

The president warned the countries, both key U.S. allies in East Asia, of an escalation if they responded to the new U.S. tariffs.

But he also stated that he was willing to modify the tariffs "downward" if Japan and South Korea changed their trade policies.