The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo

Asean readies for Trump’s tariff tantrums, trade turmoil

South-east Asian nations have staked their claim in several economic blocs that exclude the US, leaving the world’s largest economy at risk of losing sway over the region’s economic future

Summarise
Goh Ruoxue

Goh Ruoxue

Published Fri, Jan 31, 2025 · 05:00 AM
    • A man reading a Vietnamese newspaper with a front page story on the inauguration of US President Donald Trump; while Trump's earlier threats of tariffs are not off the negotiating table yet, pundits say Asean now has more leverage.
    • A man reading a Vietnamese newspaper with a front page story on the inauguration of US President Donald Trump; while Trump's earlier threats of tariffs are not off the negotiating table yet, pundits say Asean now has more leverage. PHOTO: AFP

    SOUTH-EAST Asia is bracing for impact as US President Donald Trump’s dreaded tariffs make a comeback. But this time, the region is better prepared – armed with stronger trade ties and broader economic alliances to shield itself from a full-blown fallout.

    Since the first Trump administration in 2017, Asean member nations diversified their trading partners, intensified ties with other economic blocs and jacked up intra-regional transactions.

    “This is exactly what they should be doing,” said Stephen Olson, a visiting senior fellow of the regional economic studies programme at Singapore’s Iseas-Yusof Ishak Institute.

    Asean BusinessDonald TrumpUS-Asia relationsTariffsTradeTrade warSouth-east AsiaEconomic growthCPTPPRCEPFree trade agreements

    TRENDING NOW

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    Tuas Road Viaduct’s phase two will extend the viaduct at its western and eastern ends, and will link Pioneer Road, Tuas South and Tuas Port.

    Hwa Seng Builder, two China companies win S$1.2 billion Tuas Road Viaduct phase two contracts

    Ang’s San Miguel holds nearly 25% of Luzon’s installed capacity and Lopez’s First Gen accounts for 12%.

    Deal between tycoon friends sparks scrutiny of Philippine power sector

    Between May 2024 and July 2026, around two-thirds of the estimated 640 tankers loaded at the Westridge Marine Terminal in Vancouver arrived in Asia.

    Canada is upping oil flows to Asia, but South-east Asia’s refineries aren’t ready to handle them yet

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More