Japan and South Korea have until Aug. 1 to agree new trade terms with the U.S., or face 25% “reciprocal” tariffs. The two Asian countries share vulnerabilities that put them in President Trump’s crosshairs,

Powerhouse Asian economies Japan and South Korea said on Tuesday they would try to negotiate with the U.S. to soften the impact of sharply higher tariffs that President Donald Trump now plans to impose from the start of August.

The U.S.’s closest security allies in Asia, along with six Southeast Asian countries, have been given another three weeks to negotiate trade deals — or face higher tariffs.