Trump trade deals bring some clarity in Asia

Stability comes after months of threats

- MALCOLM SCOTT KATIA DMITRIEVA

After months of uncertainty, President Donald Trump's latest tariff deals are providing clarity on the broad contours of a new trade landscape for the world’s biggest manufacturing region.

Trump on Tuesday announced a deal with Japan that sets tariffs on the nation’s imports at 15%, including for autos — by far the biggest component of the trade deficit between the countries.

A separate agreement with the Philippines set a 19% rate, the same level as Indonesia agreed and a percentage point below Vietnam's 20% baseline level, signalling that the bulk of Southeast Asia is likely to get a similar rate.

At the same time, US Treasury Secretary Scott Bessent said he'll meet his Chinese counterparts in Stockholm next week for their third round of talks aimed at extending a tariff truce and widening the discussions. That suggests a continuing stabilisation in ties between the world’s two largest economies after the US recently eased chip curbs and China resumed rare earths exports.

"We're getting along with China very well,’ Trump told reporters on Tuesday. “We have a very good relationship”