By David Lawder, Andrea Shalal and Timothy Aeppel WASHINGTON (Reuters) -U.S. President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached,

U.S. trading partners are weighing responses after President Donald Trump’s latest action on tariffs sparked a stock market selloff Monday. The White House sent letters yesterday to about a dozen countries laying out the rates at which imports would be taxed—ranging from 25% to 40%—if no other trade agreements are reached.

President Donald Trump on Monday informed Japan and South Korea that 25% tariffs will be imposed starting Aug. 1 on goods sent to the United States.