Japan demanded concessions for its large automobile industry, while South Korea said it planned to intensify trade talks over the coming weeks "to reach a mutually beneficial result."

New vehicles from the Japanese auto makers Subaru and Honda are seen at a parking lot in the Port of Richmond, as trade tensions escalate after U.S. President Donald Trump said he would impose a 25% tariff on goods from Japan and South Korea starting on August 1,

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.