President Donald Trump sent out letters to nations that haven't entered into trade agreements with the U.S., informing them of their new tariff rates.

While South Korean imports to the U.S. face 25% tariffs, the same as Trump promised in April, the rate on Japan has been raised by 1 percentage point to 25%.

The Trump administration has again delayed the date when new reciprocal tariffs will go into effect, and the president threatened a 35 percent tariff on Canada.

Japanese bond yields are rising and give rise to the sense that Japan is either in the ante chamber of a full recovery, or on the precipice of something nastier

In letters so far to 14 countries, including smaller exporters to the United States such as Serbia, Thailand and Tunisia, Trump hinted at opportunities for additional negotiations, even while warning that reprisals would draw a like-for-like response.

President Donald Trump issued separate letters to the president of South Korea and Japan's prime minister on Monday, saying the U.S. will start charging a 25% tariff on Aug. 1.

Trump Always Chickens Out—JPMorgan CEO Jamie Dimon cautioned that investors may be underestimating the risks of relying on past tariff U-turns. UBS’s Paul Donovan reinforced this concern in a note seen by Fortune,

Trump shared screenshots of letters detailing new tariff rates for over a dozen countries, allowing room for further negotiations before the renewed deadline of Aug. 1.

President Donald Trump announced on Monday that he is levying tariffs against South Korea and Japan beginning in August. Trump