Trump announced a 25% tax on products entering the country from Japan and South Korea and that the levies would commence from August 1. (File Photo/Reuters)US President Donald Trump cranked up pressure on America’s trading partners after he signed letters to heads of at least 15 countries, including Japan and South Korea informing of their new tariff rates applicable from August 1 onwards. In relief for countries, Trump signed an executive order to extend the date for all “reciprocal” tariffs, with the exception of China from July 9 to August 1.In the letters sent to 15 countries, Trump has specified if the new “reciprocal” tariff rates are higher or lower compared to April. This latest escalation comes after the US president announced “reciprocal” tariffs on April 2 on almost all its trading partners with a base tariff of 10% and higher levies of up to 50%.However, a 90-day pause was announced by the federal government on some of its most aggressive import taxes which are set to expire on July 9.Among the first recipients of the letters updating about the tariff rates were Japan’s Prime Minister Shigeru Ishiba and South Korea’s President Lee Jae-myung. The US president announced a 25% tax on products entering the country from Japan and South Korea and that the levies would commence from August 1.About two hours later, Trump further shared letters signed by him on Truth Social which were sent to Malaysia, Kazakhstan, South Africa, Myanmar and Laos, informing their leaders of new tariff rates as high as 40%.Also Read | Ahead of July 9 tariff deadline, status check of US trade deals with countries; who will Trump send letters to?The Republican leader later shared eight more letters which were sent to leaders of Tunisia, Bosnia and Herzegovina, Indonesia, Bangladesh, Serbia, Cambodia, Thailand and Bosnia putting the total letters signed at 15 on Monday.In the letter sent to over a dozen countries, Trump highlights the trade deficit that runs with the United States and said that tariff rates would also depend on other policies that he deems are impeding American goods from being sold abroad.Story continues below this adAfter Trump announced higher tariff levies for 15 countries, including Japan and South Korea, three main share indexes in the US plunged on Monday.Stay updated with the latest - Click here to follow us on Instagram© IE Online Media Services Pvt LtdTags:donald trumpUS news