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.

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%.

South Korea, the United States and Japan will hold trilateral ministerial talks on the sidelines of a multilateral gathering in Malaysia on Friday, Seoul officials said, with steep U.S. tariffs, and other shared regional and global issues likely to be high on the agenda.

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.

President Donald Trump's threats to impose high tariffs on countries make U.S. trading partners and investors nervous. But his sector tariffs could hurt consumers and businesses more in the long run.