Donald Trump’s latest act of trade brinkmanship risks creating a “tariff wall” around the manufacturing hubs of south-east Asia, leading to higher prices and tough choices for US consumers and industry, analysts warn.
Ahead of Wednesday’s deadline to cut trade deals with Washington, the US president signalled a fresh round of tariffs on the south-east Asian countries that have become a conduit for Chinese manufacturers looking to escape US levies.
He threatened Cambodia, Indonesia, Laos, Malaysia and Thailand with duties ranging from 25 to 40 per cent in an apparent final bid to force them to the negotiating table ahead of a new August 1 deadline.
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