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Malaysia, Thailand could take biggest hits to growth in Asean from tariff impact: analysts

Trump’s new tariffs will now take effect on Aug 1, after a three-month pause that was supposed to end on Wednesday

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Chloe Lim

Chloe Lim

Published Tue, Jul 8, 2025 · 08:32 AM — Updated Tue, Jul 8, 2025 · 10:55 PM
    • Most Asian markets were muted on Tuesday (Jul 8) as US President Donald Trump announced higher tariff rates on 14 countries.
    • Most Asian markets were muted on Tuesday (Jul 8) as US President Donald Trump announced higher tariff rates on 14 countries. PHOTO: REUTERS

    [SINGAPORE] Malaysia and Thailand are the economies in Asean that are set to take the biggest hits from tariffs announced by US President Donald Trump on Monday (Jul 7), according to analysts.

    Trump announced tariff rates on 14 countries, and also pushed back the date when tariffs are set to take effect – to Aug 1. His announcement came ahead of a 90-day pause that was to end this week.

    In April, Trump announced “Liberation Day” tariffs for the US’ trading partners but lowered them to a flat 10 per cent for the duration of the pause.

    Trump tariffsAsia-PacificAsian equities

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