Not only China, several Asian countries could face heat from Trump tariffs; here are the countries and how they could be hit
Trump’s Tariff Strategy and New Potential Targets
Donald Trump’s tariff plans revolve around slashing U.S. trade deficits, and this could mean a sharp rise in import taxes on goods from key Asian economies. Previously, China bore the brunt of the tariffs, but now countries like South Korea, Taiwan, and Vietnam are at risk. South Korea, for instance, registered a record trade surplus of $44.4 billion with the U.S. in 2023, driven heavily by car exports. Similarly, Taiwan has seen its U.S. export figures skyrocket, with a notable 57.9% increase in early 2024, fueled by technology and audio-visual products. Meanwhile, Vietnam has reaped benefits from redirected trade away from China, creating a massive $90 billion trade surplus with the U.S., making it a prime candidate for tariffs.
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Supply Chain Adjustments
Although Trump’s tariffs on China led to a significant reduction in direct trade, the global supply chain merely adapted rather than diminished. Many goods still involve components from China, even if assembled elsewhere, a phenomenon termed as “lengthening the supply chain.” Mari Pangestu, a former Indonesian trade minister, highlighted how products continue to rely on Chinese components despite relocation efforts. This aspect could draw renewed attention from Trump's administration, which may seek to target this interconnected supply web more comprehensively. Consequently, nations like Vietnam and Taiwan, which have
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