Big Take

Why Asia Was Hit Hardest by Trump’s Tariff Onslaught

43 snips
Apr 8, 2025
In this discussion, John Boudreau, Bloomberg Southeast Asia editor based in Ho Chi Minh City, and John Liu, senior executive editor for Greater China in Beijing, explore the fallout of Trump's tariffs on Asian economies. They highlight how China faces a staggering 50% tariff, triggering economic tremors across the region. The duo examines the 'China plus one' strategy as nations adapt to shifting trade dynamics and geopolitical tensions. They also shed light on the alarming effects on Vietnam and neighboring countries, with rising job losses and diplomatic challenges.
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INSIGHT

Asia's Tariff Troubles

  • Trump's tariffs exceed expectations, hitting Asia hardest with levies over 100% on some goods.
  • This caused market meltdowns and raised the threat of a global trade war.
INSIGHT

China's Tariff Burden

  • Trump's tariffs on Chinese goods have reached over 50%, including previous levies.
  • Some goods face tariffs exceeding 60%, impacting China's export-driven economy.
INSIGHT

China's Growth at Risk

  • China's ambitious 5% GDP growth target is threatened by reduced trade benefits.
  • Trade has been a highlight for China's economy amidst struggles in real estate and consumption.
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