P resident 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. The S&P 500 turned sharply lower in Monday afternoon trading.

President Donald Trump on Monday placed a 25% tax on goods imported from Japan and South Korea, citing persistent trade imbalances with the two crucial U.S. allies in Asia

By Manuela Andreoni and Lisandra Paraguassu RIO DE JANEIRO (Reuters) -Developing nations participating in the BRICS summit on Monday brushed away an accusation from U.S. President Donald Trump that the bloc is "anti-American,

The president said the levy will apply to "any country aligning themselves with the Anti-American policies of Brics".