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THE POLITICS THAT MATTERS TO BUSINESS

Trump tariffs and Asean’s Plan B

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    • Cargo ships at Bangkok Port in Thailand. While Asean economies are presently geared towards the US and global markets, the bloc and most of Asia are connected by free trade agreements.
    • Cargo ships at Bangkok Port in Thailand. While Asean economies are presently geared towards the US and global markets, the bloc and most of Asia are connected by free trade agreements. PHOTO: REUTERS

    Simon Tay

    Published Mon, Apr 7, 2025 · 04:15 PM

    THE world is reeling from the tariffs announced by US President Donald Trump on Apr 2. What was dubbed “Liberation Day” sent markets down markedly, not least in the US itself. Asia and Singapore are not exempt.

    Many questions arise. Most immediately, some ask how the rates were calculated, with measures ranging between near-50 and a low of 10 per cent. The impacts on manufacturing and supply chains and on foreign investment are further considerations. Many long-term issues remain unsettled.

    Are more measures coming from the US – whether using tariffs or other means to directly control specific resources and goods? Will the US close off its market from the rest of the world? Or is the goal to make America a great manufacturer again?

    US tariffsTrump tariffsAseanPolitics that matters to business

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