CHINA: In a development that has sent ripples through the global trade landscape, United States President-elect Donald Trump has reiterated his stance on imposing tariffs on imports, raising concerns
among Southeast Asian countries about the potential influx of cheap Chinese goods., analysts warn that while consumers may initially benefit from lower prices, the region’s exports could face stiff competition, impacting economic growth and employment.During his successful re-election campaign, Trump pledged to impose tariffs of up to 60% on Chinese imports and at least 10% on goods from other countries.
This could pose a significant challenge for countries aiming to industrialize, as they would have to compete against goods being sold below cost. The situation could lead to increased trade conflicts in the region. Ms Priyanka Kishore, founder and principal economist of Asia Decoded consultancy, expressed concerns about the implications of Trump’s plans for Southeast Asia.
The relocation of Chinese companies to Thailand as a result of the previous trade war has led to questions about whether the new US administration will target the Chinese supply chain in Southeast Asia.
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