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20 hours ago
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Source: AFP
Across Asia, mill workers, directors, commercialized associations and analysts voiced interest Thursday that US President Donald Trump's stinging tariffs could enactment jobs astatine hazard and hammer cardinal sectors of industry.
Trump ramped up a planetary commercialized warfare arsenic helium imposed sweeping levies connected imports into the United States connected Wednesday, sparking worries astir what the implications mightiness mean for workers and businesses.
"I can't devour oregon slumber good due to the fact that I support worrying astir losing my job," said Cao Thi Dieu, who helps marque shoes for Western brands specified arsenic Nike and Adidas astatine a mill successful Ho Chi Minh City.
Vietnam was hammered with immense tariffs of 46 percent arsenic portion of Trump's planetary commercialized blitz, which sent shares tumbling much than 7 percent successful Hanoi connected Thursday.
Dieu, 38, feared the tariffs would interaction the occupation she has been doing for 2 decades.
"How volition I negociate if I suffer my job? How volition I proceed earning wealth each period to instrumentality attraction of my 2 children’s education?" she said.
"I lone privation to enactment successful the footwear manufacturing occupation due to the fact that I don't cognize however to bash different work."
Erik Hon, 45, a manager astatine a fiscal exertion steadfast successful Singapore, thought the tariffs would thrust up planetary inflation.
"It is unsafe for everyone to person the astir almighty state successful the satellite going backmost to isolationism and trying to tame (a) China that is inevitably going to instrumentality implicit its satellite enactment position," helium added.
Alicia Garcia-Herrero, main economist for Asia Pacific astatine concern managers Natixis successful Hong Kong, warned the tariffs could backfire.
"The largest loser is the US, due to the fact that everybody's being taxed truthful there's nary flight for higher inflation," she said.
'Worst-case scenario'
Chrissy Chan, 48, a concern proprietor successful Malaysia, told AFP she was disquieted it would outgo her much to question to the United States to sojourn her family.
But she said the tariff rates "do not marque consciousness to me... I won't beryllium amazed if the Trump admin does different backpedal".
Source: AFP
Chin Chee Seong, president of the SME (small and mean enterprises) Association of Malaysia said the higher tariffs connected different countries mightiness springiness Malaysian firms a competitory advantage.
However, "we import a batch of IT products from the US", helium told AFP.
"If we enforce a reciprocal tariff, the extremity idiosyncratic present volition wage more. We volition suffer. It works some ways."
Taiwan had sought to debar Trump's levies by pledging accrued concern successful the United States, much purchases of US energy, and greater defence spending.
But Trump unleashed a hefty 32 percent levy connected Taiwanese imports, and portion the island's all-important semiconductor shipments were excluded, Taipei described the determination arsenic "unfair".
"The 32 percent truly came arsenic a astonishment and I deliberation our authorities was caught disconnected guard," said Jason Hsu, elder chap astatine the Hudson Institute think-tank and a erstwhile legislator successful Taiwan for the absorption Kuomintang party.
"The implications are really beauteous big. I deliberation the authorities has to deliberation profoundly astir however to woody with Trump successful the adjacent 4 years with a wholly caller mindset."
Andrew Kam Jia Yi, an subordinate prof astatine the National University of Malaysia, expected Taiwan to lobby for much exemptions.
Trump "gives you the worst-case script past batters you down to a woody that you mightiness not privation but seems much tenable than the archetypal threat", helium said.
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Source: AFP
