Trump tariffs on North America hint at first stirrings of what’s to hit South-east Asia

Notwithstanding short-term gains, the export-dependent region is likely to face an economic blow from a broader trade war, analysts say

VIETNAM, Thailand and Malaysia could soon feel the brunt of escalating trade tensions as US President Donald Trump’s tariff moves on its two largest trading partners mark the opening act of a gathering storm.

While the North American levies in themselves will not have a dramatic impact on South-east Asia directly, pundits cautioned against secondary shockwaves percolating through the US and warned of disrupted trade flows dampening regional growth.

These tariffs are but the first chapter in a broader “America First” policy, said Aparna Bharadwaj, global leader for the global advantage practice at Boston Consulting Group (BCG).

She described Trump’s invoking of the International Emergency Economic Powers Act to impose tariffs as “an inflection point where (governments) embark on economic nationalism to intervene in commercial transactions on the basis of prioritising national interests”.

Such a broader move towards protectionism and geopolitical fragmentation raises urgent questions, Bharadwaj told The Business Times.

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Publish date : 2025-02-26 08:00:00

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