Trump has sent letters to several trade partners of his intention to impose levies starting Aug 1, hinting at opportunities for additional negotiation while warning reprisals would draw a like-for-like response.
So far, Malaysia is the only ASEAN member state facing a higher tariff rate than what Trump threatened when he first announced sweeping Liberation Day tariffs on Apr 2, before suspending them until Jul 9.
Thailand’s and Indonesia’s rates remain unchanged at 36 per cent and 32 per cent respectively, while Cambodia (49 per cent to 36 per cent), Laos (48 per cent to 40 per cent) and Myanmar (44 per cent to 40 per cent) got lower rates.
The US and Vietnam have struck what Trump called a “Great Deal of Cooperation”, where Hanoi is set to receive a reduced tariff rate of 20 per cent, down from the threat of 46 per cent, in exchange for giving the US “total access” to its markets.