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US imposes 10% to 12.5% tariffs on Southeast Asian economies
The levies target 60 economies, with the Philippines, Singapore, Thailand, and Vietnam among the highest-hit ASEAN members, while Malaysia, Indonesia, and Cambodia face lower rates linked to enforcement efforts.
The US has imposed a new round of tariffs on 60 economies in Southeast Asia, with rates ranging from 10.0% to 12.5%, according to SCMP Economy. Analysts cited the move as likely to reinforce perceptions in the region that Washington is an unreliable partner.
The SCMP Economy article says the hardest hit ASEAN members include the Philippines, Singapore, Thailand, and Vietnam, while Malaysia, Indonesia, and Cambodia were at the lower end because they were viewed as having made more effort to strengthen enforcement.
SCMP Economy reports that the US Trade Representative, Jamieson Greer, said the tariffs are intended to “correct” what Washington describes as forced labor abuses and trade practices that are distortive.
The tariffs were announced just a day after US Secretary of State Marco Rubio told Southeast Asian foreign ministers that the US is committed “with Asean 100 per cent,” and the article adds that the US ambassador to ASEAN, Kevin Kim, said Washington is pursuing fair and reciprocal trade.