SEOUL (Reuters) -South Korea said it planned to intensify trade talks with the United States and considers U.S. President Donald Trump's plan for a 25% tariff from August 1 as effectively extending a grace period on implementing reciprocal tariffs.

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

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 effect.

Rockets general manager Rafael Stone says Kevin Durant, even at age 37, brings championship qualities to Houston and worth losing Jalen Green, Dillon Brooks

"We're not a developmental team anymore," Rockets general manager Rafael Stone told reporters Monday in his first public comments since the Durant trade. Since they won 52 games and were the No. 2 seed in the Western Conference last season,

For many countries, the reprieve they had from President Donald Trump’s eye-watering tariffs, which were implemented on April 2 and temporarily reduced to 10% a week later, are set to come to an end on August 1.

Major US trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate.