U.S. stock markets reacted negatively on Monday after President Trump announced via social media that he would unilaterally impose 25% trade tariffs on Japan and South Korea. The tariffs target two of America’s closest allies and key suppliers of autos,

President Donald Trump announces 25% tariffs on all imports from Japan and South Korea, sparking market jitters and trade concerns.

Wall Street's main indexes extended their fall on Monday after U.S. President Donald Trump said he would impose a 25% tariff on goods from Japan and South Korea, starting on Aug. 1.