The country’s new president, in office for a little over a month, had just dispatched his senior deputies to Washington to try to work out a trade deal.

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.

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

President Donald Trump this week dressed up a retreat in his trade war – delaying the imposition of tariffs from today to Aug. 1 – as a counterattack. He sent letters to 20 countries including Japan and South Korea threatening steep duties if they have not made a deal by the new deadline.

South Korea will follow terms previously agreed with the United States on defence cost sharing, its foreign ministry said on Wednesday, following a call by U.S. President Donald Trump for Seoul to pay more for the U.

Donald Trump has said he will impose 25 per cent tariffs on imports of goods from Japan and South Korea, in an announcement that sent US stocks sliding. The president on Monday said the new levies on both countries would come into effect on August 1. Trump has vowed to announce tariff rates for dozens of other trading partners in coming days.

Asian shares rose Tuesday after stocks on Wall Street closed broadly lower as the White House stepped up pressure on major trading partners to make deals before punishing tariffs imposed by the U.S. take effect.