SE Asia, hit hard with tariffs, seeks talks with US

Southeast Asian nations said yesterday it would set up a task force and other Southeast Asian nations said they plan to seek talks with Washington as they reel from being in with some of US President Donald Trump's tariffs.

- FRANCESCO GUARASCIO ORATHAI SRIRING

Countries such as Vietnam and Thailand are heavy exporters to the US, having benefited as Chinese and international manufacturers shifted production there to countries to avoid duties on China that Trump imposed during his first term.

Six of the nine Southeast Asian countries listed by Trump were slapped with much bigger export tariffs of between 32% and 49%. By comparison, the level for the European Union was 20%.

So far, none of the Southeast Asian nations have spoken of retaliatory tariffs.

Vietnam, where companies like Apple, Nike and Samsung Electronics have large manufacturing operations, was hit with 46% levies and appears particularly exposed. Its exports to the United States were worth $142 billion last year, nearly 30% of its gross domestic product.