The US sets reciprocal tariffs of 25% for Japan and South Korea. Both countries vowed to accelerate negotiations within three weeks.

The U.S.’s closest security allies in Asia, along with six Southeast Asian countries, have been given another three weeks to negotiate trade deals — or face higher tariffs.

South Korea said it planned to intensify trade talks with the United States and considered U.S. President Donald Trump's plan for a 25% tariff from August 1 as effectively extending a grace period on implementing the duties.