U.S. trading partners are weighing responses after President Donald Trump’s latest action on tariffs sparked a stock market selloff Monday. The White House sent letters yesterday to about a dozen countries laying out the rates at which imports would be taxed—ranging from 25% to 40%—if no other trade agreements are reached.

TOKYO (Kyodo) -- U.S. President Donald Trump's 25 percent "reciprocal" tariff on imports from Japan, if imposed, is projected to reduce the Asian nation's gross domestic product by 0.8 percent in 2025, according to a private-sector estimate.

U.S. stocks closed lower after President Donald Trump said in social media posts he sent letters to Japan and Korea notifying them that their tariffs would be 25%, The tariffs will be levied beginning Aug. 1 and will be added to any retaliatory tariffs from either nation.