Donald Trump has vowed to impose blanket tariffs of up to 20 per cent on imports from all countries, as well as tariffs on Chinese imports in excess of 60 per cent.
Donald Trump 's stunning performance in the US presidential election triggered shock and angst in Asia, where observers fretted over the implications for everything from trade to human rights and climate change. In Asia, countries that have large trade deficits with the US – like Malaysia and Vietnam – can expect to be treated differently this time, compared with Trump’s first term as president between 2017 and 2021, analysts told CNA.
While on the campaign trail, Trump vowed to impose blanket tariffs of up to 20 per cent on imports from all countries. Alex Holmes, regional director for Asia Pacific at Economist Intelligence, noted that most markets and policymakers are working under the assumption that Trump will not impose the full tariffs he put forth.
This comes amid worries that Chinese products may be rerouted via other nations in the region to avoid higher US levies. Control of the House still hung in the balance as of Wednesday as votes in several races continued to be tallied, but the Republicans were leading. In terms of monetary policy, Holmes said Trump’s policies will create a strong dollar and may lead the US Federal Reserve to stop cutting rates or at least slow down its easing cycle.
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