By Jeff Mason, Bart H. Meijer and David Brunnstrom WASHINGTON/BRUSSELS (Reuters) -U.S. President Donald Trump opened a new phase on Monday in the trade war he launched this year, telling partners, from powerhouse suppliers such as Japan and South Korea to minor players,

Donald Trump has said he will impose 25 per cent tariffs on imports of goods from Japan and South Korea, in an announcement that sent US stocks sliding. The president on Monday said the new levies on both countries would come into effect on August 1. Trump has vowed to announce tariff rates for dozens of other trading partners in coming days.

Asian shares are mostly higher after stocks fell on Wall Street as the Trump administration stepped up pressure on trading partners to make deals before punishing tariffs imposed by the U.S. take effe

The S&P 500 retreated 0.8% from its all-time high, and bond yields ticked higher. The Dow industrials fell 0.9%.