President Trump on Monday said the U.S will impose 25% tariffs on goods from South Korea and Japan by Aug. 1, while also threatening to hit a dozen other nations with steep import duties by next month.

"America will, once again, build a DOMINANT Copper Industry," Trump said in a post on his Truth Social media platform.

President Donald Trump's latest executive order delaying official tariff increases on dozens of countries until Aug. 1 has relieved some pressure on world markets, but he also ordered a 25% tax on goods imported from Japan and South Korea,