The president has already threatened an additional 10% tariff on goods from countries aligning themselves with a bloc of nations that includes China and Russia.

President Donald Trump told Japan and South Korea the U.S. has set 25% tariffs on their goods, in the first of several trade moves expected to be announced over the next 48 hours. He will also issue an executive order that will extend the previous July 9 deadline for all trade deals to Aug.

P resident Trump is threatening 25% tariffs on Japan and South Korea after months of trade talks have yet to seal a deal. The S&P 500 turned lower in Monday afternoon trading, but investors know there's a good chance this won't be the final word.