Trump plans to introduce new 25–40% tariffs on Southeast Asian countries
The post Trump plans to introduce new 25–40% tariffs on Southeast Asian countries appeared on BitcoinEthereumNews.com. Trade tensions rise as US President Donald Trump threatens new tariffs on Southeast Asian countries. Analysts have warned that this could erect a “tariff wall” that disrupts regional supply chains and raises prices for American consumers. Trump’s new threats come as an August 1st deadline for trade deals approaches. He said he planned to impose new tariffs, from 25% to 40%, on countries including Cambodia, Indonesia, Laos, Malaysia, and Thailand. These countries have become primary port calls for a shuffle of Chinese goods redirected to skirt current US tariffs. Vietnam, the largest in this chain of trans-shipping, receives a 20% tariff on the goods it exports to the US and gets hit with 40% on the re-routed goods. Trump says the tariffs will generate more than $300 billion by the end of the year, beginning with what he called “big money” starting to come in from August. Tariffs reshape global supply chains While Trump’s attitude may strike a chord with those inclined toward protectionism, warning bells are being sounded by economists and trade experts. They warn that creating a “tariff wall” around Southeast Asia would cause major disruptions in global supply chains and raise costs for consumers and businesses in the United States. There’s still room for countries like Malaysia, Cambodia, and Thailand to haggle for better terms on the way to the negotiations with Washington, said Alicia García Herrero, the chief Asia Pacific economist at Natixis. She said the tariff deal struck with Vietnam should not become a template for the region. Regardless of the final tariff levels agreed upon, prices for goods exported from Southeast Asia are expected to rise under Trump’s plan. The region remains a major manufacturing hub for US consumer products, making it likely that cost increases will ripple through American markets. “Manufacturing will get…
The post Trump plans to introduce new 25–40% tariffs on Southeast Asian countries appeared on BitcoinEthereumNews.com.
Trade tensions rise as US President Donald Trump threatens new tariffs on Southeast Asian countries. Analysts have warned that this could erect a “tariff wall” that disrupts regional supply chains and raises prices for American consumers. Trump’s new threats come as an August 1st deadline for trade deals approaches. He said he planned to impose new tariffs, from 25% to 40%, on countries including Cambodia, Indonesia, Laos, Malaysia, and Thailand. These countries have become primary port calls for a shuffle of Chinese goods redirected to skirt current US tariffs. Vietnam, the largest in this chain of trans-shipping, receives a 20% tariff on the goods it exports to the US and gets hit with 40% on the re-routed goods. Trump says the tariffs will generate more than $300 billion by the end of the year, beginning with what he called “big money” starting to come in from August. Tariffs reshape global supply chains While Trump’s attitude may strike a chord with those inclined toward protectionism, warning bells are being sounded by economists and trade experts. They warn that creating a “tariff wall” around Southeast Asia would cause major disruptions in global supply chains and raise costs for consumers and businesses in the United States. There’s still room for countries like Malaysia, Cambodia, and Thailand to haggle for better terms on the way to the negotiations with Washington, said Alicia García Herrero, the chief Asia Pacific economist at Natixis. She said the tariff deal struck with Vietnam should not become a template for the region. Regardless of the final tariff levels agreed upon, prices for goods exported from Southeast Asia are expected to rise under Trump’s plan. The region remains a major manufacturing hub for US consumer products, making it likely that cost increases will ripple through American markets. “Manufacturing will get…
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