Bloomberg Daybreak: Asia Edition The Race for US Trade Deals as Tariff Deadline Nears
Jul 7, 2025
Join Paul Dobson, Bloomberg's Executive Editor for Asia Markets, and Trinh Nguyen, Senior Emerging Asia Economist at Natixis, as they delve into the frenzied negotiation landscape ahead of a critical U.S. tariff deadline. They discuss how countries like Japan and South Korea are racing to finalize trade deals, with talks of extensions hanging in the balance. The duo also sheds light on the optimistic market response to the U.S.-Vietnam trade deal despite rising tensions and examines the broader implications for Asia's economic landscape.
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US Trade Deadline Complexity
- The rush to secure US trade deals highlights complexities and limited progress by the July 9 deadline.
- Treasury Secretary Bessent hinted at a possible three-week extension to negotiate stuck agreements.
Vietnam Deal Targets China Transshipments
- The Vietnam deal showcases US efforts to curb Chinese transshipments via higher tariffs.
- Markets expect Chinese manufacturers to find ways to bypass or manage these tariffs through supply chain adjustments.
Asia Markets Gain But Lag EM
- Asian markets showed strength in H1 2025, boosted by IPO activity and weaker US dollar.
- Yet, Asia's gains lag behind some emerging markets like Eastern Europe and Latin America.