President Donald Trump posted the letters to country leaders — including of Japan and South Korea — on social media, informing them of the new rates. The White House expects about 14 letters to go out today.

P resident Trump has sent letters threatening tariffs of 25% or more to the leaders of Japan, South Korea and five other nations, turning up the heat on two close U.S. allies after months of trade talks have yet to seal a deal. The S&P 500 turned sharply lower in Monday afternoon trading.

Japan, South Korea, Malaysia and Kazakhstan will face 25% import duties starting Aug. 1, while goods from Laos and Myanmar will face a 40% tariff.

Asian shares are mostly down as the Trump administration steps up pressure on trading partners to quickly make new deals before a Wednesday tariff deadline