Asia braces for new US tariffs as global 10% levy expires
Asian economies are preparing for a fresh round of US tariffs as the blanket 10% levy imposed on global trading partners is set to expire, with the Trump administration expected to move toward country-specific rates. The shift adds to a week of escalating US trade actions against multiple partners.
Asian exporters and policymakers are bracing for a new wave of US tariffs as the blanket 10% levy that has applied broadly to global trading partners nears its expiration, clearing the way for the Trump administration to shift toward country-by-country rates.
The looming change comes during a week of escalating US trade actions, with Washington also announcing steep new tariffs on imported generic pharmaceuticals and threatening additional levies against other trading partners including Canada. Asian governments have been lobbying for extensions or carve-outs ahead of the deadline.
Economists warn that a shift to differentiated tariff rates could hit export-dependent Asian economies unevenly, with some countries facing steeper duties than others depending on the outcome of ongoing bilateral talks with Washington.
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