Trump's tariffs across Asia

What are tariffs? 

A tariff is a duty or tax applied on the import of goods into a country. Typically, this tax is a percentage of a good’s value and the upfront cost of a tariff is paid by the company importing it.

Below is a list of the tariffs announced by Trump that will be rolling out across Asia.  

These tariffs don’t include sector-specific tariffs, such as the 25 percent that will be applied on all foreign automobiles coming into the US. Some Asian countries – like South Korea and Japan in particular – have large auto sectors with long-established ties to the US. However, sector-specific tariffs won't be applied on top of those announced today.

Trump has also announced a ‘baseline’ 10 percent tariff for most US trading partners, which will come into effect on April 5. For higher tariffs – which the president is calling ‘reciprocal’ tariffs against partners who have treated the US unfairly – will come into effect on April 9.

Reciprocal tariffs, Trump has said, have been levied against trading partners with higher tariffs against US goods, or who have had barriers to trade.

A screenshot of the reciprocal tariffs announced by US President Trump. Image: X.com

China – 34 percent 

This new rate of 34 percent is on top of the 20 percent tariff Trump announced earlier in his presidency, US Treasury Secretary Scott Bessent confirmed. This gives Chinese imports into the US an effective tariff rate of 54 percent.

China is one of America's largest trading partners, alongside Canada and Mexico - in 2024, China's overall trade surplus hit $US992 billion. Roughly a third of that was with the US.

Top imports from China to the US include smartphones, batteries, toys, and video games.

India - 26 percent

For India, the US is its largest trading partner. In 2024, the total goods trade between the two countries was estimated at USD$129.2billion, with America importing US$87.4 billion from India.

Ahead of Trumps 'Liberation Day', a report from Citi Research placed potential annual losses from tariffs at $US7billion, with sectors such as jewellery, chemicals, and metal products most at-risk.

India - often dubbed the 'pharmacy of the world' - will also be keeping an eye on details around the pharmaceutical sector. In a fact sheet released by the White House, drugs (and a few other select products) aren't subject to the announced tariffs. However, more sector-specific tariffs, such as the 25 percent automobile tax, may be announced in coming days.

Japan - 24 percent

Japan's Chief Cabinet Secretary Yoshimasa Hayashi criticised Trump's tariff rate on the country, saying “we have serious concerns about the consistency with the WTO (World Trade Organization) Agreement and the Japan-U.S. Trade Agreement."

Japan and the US have traditionally been longstanding trade partners - in 2022, Japan was one of the country's largest importers, with a value of USD$148.1 billion goods crossing the American border.

South Korea - 25 percent

South Korea has already been hit by tariffs - Trump's 25 percent tax on foreign automobiles has been a major concern to the country. Historically, car manufacturers - for example, Hyundai - have been the producers of South Korea's largest exports to the US. This new 25 percent tariff won't be combined with the automobile tariff.

Together with China and Japan, South Korea had made some pre-emptive moves to strengthen trilateral trading relationships ahead of 'Liberation Day'. Trading ministers from the three countries gathered in Seoul last week, to announce a 'reinvigoration' of negotiations towards a free trade agreement.

Taiwan – 32 percent 

Like pharmaceuticals, semiconductor chips have been excluded from Trump's tariffs for now. For Taiwan's TSMC - the world's largest chip manufacturer - this will come as good news. Taiwan is a major exporter of machinery and electrical equipment to the US - in 2023, $US52.4billion worth of these products were exported to America.

Thailand - 36 percent

For Thailand, the previous US tariff on Thai imports averaged at two percent, while Thailand's average on US products was eight percent. Trump's tariffs on the Southeast Asian nation were higher than expected and Thai officials are 'eager' to begin trade talks.

The US was Thailand's largest export market last year, "accounting for 18.3 per cent of total shipments, or $54.96 billion," reporting from Channel News Asia said.

Agricultural goods, electronics, and machinery are all key exports from Thailand to the US.

Viet Nam - 46 percent

Viet Nam is one of the countries that will be most vulnerable to US tariffs. It is a huge exporter to America - reporting puts Viet Nam's exports to the country at between 25 percent and 30 percent of its GDP.

Viet Nam is a hub of smartphone and accessory manufacturing – including for brands such as Apple. The country is also a large producer of textiles and footwear and these tariffs will hit several large American companies. For example, both Nike and Adidas are heavily reliant on Viet Nam facilities – according it its annual report, Nike produced 50 percent of its footwear in Viet Nam in the 2024 financial year.

Other tariffs across Asia:

Bangladesh – 37 percent 

Philippines – 17 percent 

Sri Lanka – 44 percent  

Cambodia- 49 percent 

Indonesia – 32 percent 

Malaysia - 24 percent

Singapore - 10 percent

Myanmar - 44 percent

Laos - 48 percent

Banner image: President Donald J. Trump signs an Executive Order on on the Administration’s tariff plans at a “Make America Healthy Again” event, Wednesday, April 2, 2025, in the White House Rose Garden. Official White House Photo by Abe McNatt/Wikimedia Commons

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