Nightmare scenario as Trump’s tariffs head for Asia
- noemieviterale
- Apr 10
- 1 min read
With US President Donald Trump’s reciprocal tariffs about to reshape global trade, a coordinated response is the best way forward, say Steven R Okun and Thurgood Marshall Jr.
SINGAPORE: On Wednesday (Apr 2), the Trump administration has promised to roll out a slew of reciprocal tariffs, in what United States President Donald Trump has described as “Liberation Day”.
The destruction of the international trading system coupled with a global tariff war were once considered the nightmare outcome in geopolitical scenario planning. Now, it’s the base case.
Countries across the Asia-Pacific, particularly in Southeast Asia, are bracing for impact, "tarrified" of what's to come. Malaysia, Thailand and Vietnam are widely expected to be among the hardest hit with tariffs, having been identified by Treasury Secretary Scott Bessent as members of the "Dirty 15" trading partners. These countries’ outsized trade surpluses with the US place them on that list.
For weeks, leaders around the world have made their case to Mr Trump and his administration for exemptions.
There is little to suggest their efforts will pay off.
