President Donald Trump told Japan and South Korea the U.S. has set 25% tariffs on their goods, in the first of several trade moves expected to be announced over the next 48 hours.He will also issue an executive order that will extend the previous July 9 deadline for all trade deals to Aug.

President Donald Trump on Monday informed Japan and South Korea that 25% tariffs will be imposed starting Aug. 1 on goods sent to the United States.

President Trump is threatening 25% tariffs on Japan and South Korea after months of trade talks have yet to seal a deal. The S&P 500 turned lower in Monday afternoon trading, but investors know there's a good chance this won't be the final word.