President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.

US trading partners trying to navigate the final weeks of negotiations before President Donald Trump’s so-called reciprocal tariffs hit are facing a leader who has made clear he’s lost patience with talks.

P resident Donald Trump is set to impose a 25 percent tariff on goods imported from Japan and South Korea, starting August 1st. This move could potentially lead to price increases on a range of products if the costs are passed on to consumers.

President Donald Trump on Monday informed Japan and South Korea that 25% tariffs will be imposed starting Aug. 1 on goods sent to the United States.

While South Korean imports to the U.S. face 25% tariffs, the same as Trump promised in April, the rate on Japan has been raised by 1 percentage point to 25%.

Treasury secretary Scott Bessent, part of Trump’s multi-leader trade team, has reportedly been a key advocate for the pauses. But the label has irked Trump and he insisted Tuesday that the deadline had always been in August. “I didn’t make a change. A clarification, maybe,” Trump said at a cabinet meeting.

Japanese bond yields are rising and give rise to the sense that Japan is either in the ante chamber of a full recovery, or on the precipice of something nastier

Price increases could hit coffee, shoes, appliances and other products following a flurry of tariffs issued by President Donald Trump in recent days, analysts told ABC News.