SINGAPORE — Six ASEAN economies, including Indonesia, Thailand and Malaysia, were left reeling Tuesday, after U.S. President Donald Trump threatened to impose punitive “reciprocal” tariffs, starting Aug. 1, on their goods and much higher levies on items transshipped from China.
Trump announced on Monday in Washington that he had sent letters telling Thailand and Cambodia they would face tariffs of 36%, Indonesia 32%, Malaysia 25%, and Laos and Myanmar both 40%. Only Vietnam, which has struck a deal with Washington, has received a significant reduction in the rate the U.S. president announced in April, down to 20%. However, goods transshipped through Vietnam face being hit with 40% tariffs.
