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.

The US president's tariff regime has up-ended global markets, disrupted businesses and thrown international trade into uncertainty and today's deadline is unlikely to put an end to it.