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 Trump has told 14 countries that they will face tariffs of at least 25 percent on Aug. 1 if they don’t reach agreements by then.

Markets fall on Monday after President Trump threatened 14 U.S. trading partners with steep tariffs starting August 1.