President Trump has sent letters threatening tariffs of 25% or more to the leaders of Japan, South Korea and five other nations, turning up the heat on two close U.S. allies after months of trade talks have yet to seal a deal.

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.

Trump has also signalled a possible reduction in the newly announced 25% tariffs on Japanese and South Korean goods, provided both nations agree to revise their current trade policies. Meanwhile, the White House added that similar trade letters would be sent to 12 more nations.