China's Economic Challenge Under New Tariffs

China, the world's second-largest economy, faces a significant hike in U.S. tariffs, pushing the total rate to 54%. This move could potentially reduce China's GDP by 0.27%, translating to a $53 billion loss. Experts suggest that while the tariffs will cause sectoral pain, they won't decisively impact the broader Chinese economy.

China has vowed to take countermeasures, criticizing the U.S. for disregarding multilateral trade balances and its own benefits from international trade.

Vietnam's Trade Dilemma

With a 46% tariff rate, Vietnam anticipates a nearly 1% GDP drop, equating to a $5 billion loss. The U.S. cites a $123 billion trade deficit with Vietnam as justification for the high tariffs, which Vietnam deems "unfair."

Singapore's Strategic Response

Despite a 10% tariff rate, Singapore expresses disappointment, given its free-trade agreement and trade deficit with the U.S. The city-state plans to engage the U.S. to address concerns, fearing the tariffs could escalate costs and disrupt economic forecasts.

ASEAN Nations Under Pressure

Other ASEAN countries, including Cambodia, Laos, Myanmar, Indonesia, and Thailand, face tariffs ranging from 32% to 49%. These measures threaten to exacerbate poverty and economic instability in the region, with analysts warning of potential retaliatory actions and further trade tensions.