President Donald Trump on Monday set a 25% tax on goods imported from Japan and South Korea, as well as new tariff rates on a dozen other countries.

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 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 US has imposed new tariffs on imports from seven countries, including the Philippines and Algeria, as part of Trump's drive to reduce the trade deficit and promote fair trade.

By Rae Wee SINGAPORE (Reuters) -Asian stocks rose slightly on Thursday, riding on optimism from Nvidia's brief rise to a world-record $4 trillion valuation and as investors largely shrugged off U.S. President Donald Trump's latest tariff salvos.

US President Donald Trump on Wednesday announced a fresh round of tariffs on imports from seven nations - Sri Lanka, Algeria, Iraq, Libya, the Philippines, Moldova and Brunei. These tariffs will come into effect on August 1.

The president’s tariff announcements suggest he has not backed away from his initial strategy, where even smaller trading partners will face tariffs.