Tariff levels Southeast Asia faces under Trump plan
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Companies that embraced supply-chain diversification by moving some operations to economies geographically close to China now face an array of bad options.
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The Indian rupee is poised to fall at open on Thursday, driven by the decline in Asian equity and currency markets after U.S. President Donald Trump's imposition of broad-based tariffs.
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All major powers—the U.S., China, Japan, the European Union, and India—saw an increase in trust from Southeast Asia this year. Of these, Japan remains the most trusted, and its trust level increased from 58.9% to 66.8%. The E.U. overtook the U.S. for second most trusted, while the U.S., China and India followed in that order.
Southeast Asian nations reeled on Thursday as they were hit with some of President Donald Trump's heftiest tariffs, which now threaten the economies that have benefited from investment since he imposed levies on China during his first term.
As the region prepares for a potentially "painful adjustment", Asia's automakers could focus more on domestic and regional markets to reduce their exposure to the US, say experts.
While 79 people are still missing after building collapse in Bangkok, in Myanmar the scale of the disaster is still unclear. | ITV National News
Countries in the export-driven region of Southeast Asia have been hit with particularly high tariffs in the global round of levies announced by U.S. President Donald Trump. Six of the 10 Southeast Asian countries listed had tariff levels of between 32% to 49%.
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They are open to negotiations with Washington, but will also seek to diversify their export markets away from the U.S.
When a 7.7 magnitude earthquake struck Myanmar, AP delivered what it does best: fast, comprehensive, all-formats coverage, with staff from across the
Southeast Asian currencies opened lower and the region’s stocks look set to drop after Asian emerging nations were given some of the biggest tariff increases by US President Donald Trump.
With robust existing institutional partnerships and a shared commitment to economic decarbonisation, Southeast Asia should turn to Australia for greater support in its energy transition.