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.

The country’s new president, in office for a little over a month, had just dispatched his senior deputies to Washington to try to work out a trade deal.

Trump's moves have raised fears that economic growth would slow to a trickle, if not make the U.S. and other nations more vulnerable to a recession.