China on Tuesday warned the Donald Trump administration against reigniting trade tensions by reinstating tariffs on its goods from August, and threatened to retaliate against nations that strike deals with the United States to exclude China from their supply chains.

China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.

President Trump said Japan and South Korea would face tariffs of 25 percent unless they reached an agreement with the United States. Other countries received notice of higher levies.

President Donald Trump cranked up the pressure Monday on America’s trading partners, firing off letters to heads of several countries, informing them of their new tariff rate. But at the same time, Trump took some of the edge off by signing an executive action Monday to extend the date for all “reciprocal” tariffs,

President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, but suggested that he was still open to additional negotiations and pushed off increased duties until at least Aug.

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%.

Wall Street is pointing to a lower open as the Trump administration steps up pressure on trading partners to quickly make deals before a Wednesday deadline