ASEAN nations hard hit by Trump’s tariffs

HANOI, April 3, 2025 – Southeast Asian nations are grappling with steep U.S. tariffs imposed by President Donald Trump, targeting their export-driven economies.

Here’s a summary of the affected countries by Trump’s Tariffs:

• Vietnam: Hit with a 46% tariff, impacting its US$142 billion export market (30% of GDP). A task force is being formed to negotiate, with PM Pham Minh Chinh aiming to protect the 8% growth target for 2025.
• Thailand: Faces a 37% tariff, exceeding its expected 11%. PM Paetongtarn Shinawatra plans talks to safeguard the 3% GDP growth goal, hindered by 2.5% growth in 2024.
• Malaysia: Received a 24% tariff; opts for dialogue over retaliation to maintain fair trade ties with the U.S.
• Cambodia: Struck with a 49% tariff, threatening its garment and footwear sectors, with little leverage for negotiations.

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