It was a U-turn after days of market chaos that he indicated was needed to calm global bourses after trillions of dollars were wiped out in upheaval caused by his “Liberation Day” tariffs. A baseline 10 per cent tariff remained in force on nearly all goods imported to the US.
His helter-skelter wielding of tariffs has baffled Southeast Asian exporters and left their leaders in a spin, unsure whether to swiftly negotiate free access to more US goods to lower trade deficits – or ride out the storm.
“Nothing is certain but uncertainty when it comes to Trump tariffs!” Malaysia’s Trade Minister Tengku Zafrul Abdul Aziz said on Thursday in a post across his social media accounts.
More than half of Asean’s 10 members were ranked among the “worst offenders” by Washington for holding the greatest trade surpluses with America, a hit list wielded by Trump on his heavily-trailed “Liberation Day” stunt.
