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Trump's Tariffs Could Sting Singapore Firms, Survey Shows

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<img data-document-id="cms/api/amp/image/AA1Ckmqd" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Ckmqd.jpg"/>

 Approximately 45% of firms surveyed in Singapore intend to transfer the additional expenses stemming from new U.S. tariffs to their clients, according to a recent poll.


 The AmCham Singapore stated on April 2nd that other companies plan to counter this situation by broadening their supplier networks to minimize dependence on markets with heavy tariffs. Additionally, they aim to capitalize on chances to increase their market presence as rivals who are less quick to adjust lose ground.


 The quick poll revealed that over two-thirds of the 36 participants identified possible retaliatory tariffs on nations that impose taxes on U.S. imports as their primary worry regarding their businesses, rather than current trade policies.


 Almost seven out of ten (69%) stated they anticipate
 the new tariffs
 to exert a considerable or somewhat adverse effect on their operations.


 The survey results were released prior to the White House’s announcement on April 2, which outlined extensive reciprocal tariffs targeting America’s trade allies.


 Approximately 20% of those surveyed think these measures won't impact their business at all.


 Frank Debets, who leads customs and trade efforts for Asia-Pacific at PwC Singapore, did not agree with this view. He stated that it would be "unexpected" if businesses claiming no effect were completely protected from subsequent repercussions.


 For example, their suppliers and clients might face disruptions, impairing their capacity to purchase or supply goods and services, or they could become targets of reciprocal actions initiated elsewhere, he mentioned.


 The survey was carried out collaboratively by AmCham Singapore, BowerGroupAsia Singapore, and PwC Singapore.

Trump's Tariffs Could Sting Singapore Firms, Survey Shows

Unknown business, commerce, economics, international trade, singapore

Approximately 45% of firms surveyed in Singapore intend to transfer the additional expenses stemming from new U.S. tariffs to their clients, according to a recent poll. The AmCham Singapore stated …

Silver Lining Emerges as Malaysia Navigates US Tariffs

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PETALLING JAYA: While the US imposing tariffs may seem gloomy, it actually presents an opportunity for our country, according to various trade associations.
 
 
 The President of the Federation of Malaysian Manufacturers, Tan Sri Soh Thian Lai, stated that although the 24% tariff imposed on Malaysia is far from perfect, it offers certain strategic benefits when compared with neighboring countries.
 
 
 numerous ASEAN nations such as Vietnam, Cambodia, and Laos along with China are encountering substantially increased bilateral US tariffs, with some approaching twice the rate imposed on Malaysia.
 
 
 This change effectively flattens the competition landscape and places Malaysia in a more appealing position for exports, particularly for purchasers looking to move away from pricier nations.
 
 
 "We can leverage this competitive edge to grab a portion of the U.S. market in specific product segments," he stated upon being reached for comment.
 
 
 Although sectors such as semiconductors and pharmaceuticals are not subject to the tariff increase, Soh mentioned that other industries could still see advantages.
 
 
 They encompass items such as rubber gloves, electronic gadgets, packaged foods, aviation parts, furniture, and medical equipment.
 
 
 "These sectors are areas where Malaysia has demonstrated expertise, and where rival suppliers from China or Vietnam currently encounter increased tariff obstacles," he stated.
 
 
 Soh observed that Malaysia's robust manufacturing capabilities, varied supply chain network, and credible regulations could establish the country as a dependable alternative within global supply chains catering to the U.S. market.
 
 
 <img data-document-id="cms/api/amp/image/AA1CmYGY" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CmYGY.jpg"/>
 
 
 The Associated Chinese Chambers of Commerce and Industry Malaysia Treasurer-General, Datuk Koong Lin Loong, stated that imposing elevated tariffs on other countries within the Southeast Asian region might result in substantial long-term benefits for Malaysia.
 
 
 The bright side we should focus on is the possibility of turning Malaysia into a key regional investment center.
 
 
 "Investors prefer putting their money here over countries like China and Vietnam, where they faced heavier tariffs," he stated.
 
 
 He mentioned that the country's attractiveness as an investment destination was enhanced because of its robust economy, consistent governmental policies, and capable workforce.
 
 
 These are key elements that investors take into account.
 
 
 “Although the US tariffs on the Philippines (17%) and Singapore (10%) are lower than Malaysia, investors may find policies in the Philippines not so conducive while Singapore may be too expensive for them to set up operations,” he said.
 
 
 Koong mentioned that the strengthening of the ringgit against the US dollar can be attributed to robust economic indicators within the country and the currency being considered undervalued.
 
 
 Given the imposed tariffs, fund managers view the currency’s potential.
 
 
 "Additionally, our stock market has stayed above the 1,500 level, unlike some others that experienced significant drops," he noted.
 
 
 The President of the SME Association of Malaysia, Chin Chee Seong, stated that these tariffs will affect certain areas but primarily target particular high-tech and premium petroleum goods rather than across all sectors like in various other nations within the Asia-Pacific area.
 
 
 Relative to several nations like Laos, Cambodia, Vietnam, and China, our situation remains comparatively more favorable.
 
 
 We primarily export advanced technology goods and premium petroleum products, constituting the major portion of our transactions with the United States; concurrently, we maintain a comparatively modest trade imbalance.
 
 
 "We are in a more favorable situation since items like semiconductors are not subject to tariffs. Therefore, we will probably face only a 10% tariff on most of our other exported goods," he stated when reached for comment.
 
 
 Chin observed that Malaysia was heading in the correct direction by avoiding retaliatory actions towards the United States and choosing instead to pursue a policy of friendly interaction.
 
 
 He thought that US President Donald Trump might experience another phase of tariff modifications because of the criticism he is receiving from various nations as well as within his own country.
 
 
 The co-chairman of the Asean-India Business Council, Nivas Ragavan, noted that Malaysia avoided increased tariffs thanks to its equitable trading relationship with the United States, especially in critical sectors like electrical and electronic products, medical equipment, and precise components which demand stringent compliance standards.
 
 
 "These sectors are closely intertwined with U.S. supply chains and follow international regulatory standards, which might have led the United States to apply a lesser tariff rate than other regional exporters who have distinct trade profiles," he explained.
 
 
 Nivas, who also serves as the vice-chairman of the Federation of Malaysian Businesses Association, stated that reducing tariffs for Malaysia would offer the country a stronger competitive edge.
 
 
 Many of our ASEAN neighbors now encounter higher expenses when exporting goods to the United States.
 
 
 "This might steer specific American purchasers and investors towards Malaysia, notably within areas such as manufacturing, electronics, and medical equipment," he stated.
 
 
 He mentioned that the nation could utilize its current free trade pacts and business-conducive atmosphere to draw in shifts in supply chains from nations with higher tariffs.
 
 
 "There's an opening here for Malaysian exporters to seize, innovate, and take over the space vacated by their regional rivals," he noted.
 
 
 As for the ringgit’s recent appreciation, Nivas said that this could be due to the volatility of the US economy due to inflationary pressure.
 
 
 "In the Malaysian context, persistent trade surpluses, higher commodity prices especially for palm oil and energy, along with a gradual rebound in local consumption, are bolstering faith in the ringgit," he further stated.
 
 
 The advisor of Bumiputera Retailers Organization Malaysia, Datuk Ameer Ali Mydin, stated that products brought in from nations facing increased tariffs might ultimately be sold in this country for less money.
 
 
 This is because companies in those impacted nations might produce more than needed domestically as a result of increased taxes on exports to the United States.
 
 
 "Nevertheless, we need to be cautious about avoiding dumping from these nations, which is currently occurring via e-commerce platforms and could impact our retail industry," he stated.

Silver Lining Emerges as Malaysia Navigates US Tariffs

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PETALLING JAYA: While the US imposing tariffs may seem gloomy, it actually presents an opportunity for our country, according to various trade associations. The President of the Federation …

How Tanzania should respond to Trump tariffs

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Dar es Salaam. As US President Donald Trump’s sweeping trade tariffs begin to send ripples through advanced economies, economists and policy experts in Tanzania are urging the government to adopt strategies that will shield the country from potential economic losses.Mr Trump’s 10 percent tariffs, which came into effect over the weekend, are expected to trigger retaliatory measures from affected nations and heighten global trade tensions.Although Tanzania is not among the countries likely to suffer immediate, significant impact—owing to the relatively modest size of its exports to the United States—analysts say the country must not be complacent and should begin preparing for possible long-term disruptions.Among the first nations affected by the new US tariffs are Australia, Britain, Colombia, Argentina, Egypt and Saudi Arabia.The tariffs come at a critical juncture, with the African Growth and Opportunity Act (Agoa)—which has granted preferential access to the US market for African countries including Tanzania—set to expire in September 2025. If not renewed, Tanzania could face new hurdles in accessing US markets.According to Bank of Tanzania (BoT) data, in the 2023/24 period, Tanzania exported goods worth Sh255.6 billion (approximately $107 million) to the US, while importing products valued at Sh950.2 billion (around $391 million). Tanzania’s key exports to the US include pulses, coffee, textiles and cashew nuts, while major imports comprise machinery, pharmaceuticals and laboratory equipment.In light of the evolving global trade environment, experts are calling on the Tanzanian government to diversify its trade partnerships and enhance ties with other regions, particularly within Africa and emerging markets in Asia, such as China and India, as well as the European Union (EU). Particular emphasis, they say, should be placed on maximising the benefits of the African Continental Free Trade Area (AfCFTA), while pursuing deeper cooperation with strategic partners like the EU and China.Commenting on the matter, Civic United Front (CUF) chairman Ibrahim Lipumba said Tanzania could mitigate any potential losses from the US market by expanding its exports within the continent and beyond.Prof Lipumba, who is also an economist, advised that Tanzania prioritise industrial development to boost local manufacturing for both domestic consumption and export. He also recommended that the country invest more in gold as a strategic reserve, especially during periods of global economic uncertainty.“Gold is considered a safe-haven investment in times of economic instability. The Bank of Tanzania’s ongoing initiative to purchase gold from local miners is a step in the right direction.”The BoT has announced plans to purchase six tonnes of gold during the current financial year to strengthen national reserves.Prof Lipumba also underscored the need for a well-defined economic diplomacy strategy to position Tanzania favourably in the evolving global trade landscape.“Tanzania doesn’t export many goods to the US and currently faces a relatively low tariff of 10 percent compared to China’s 54 percent,” he noted. “This presents an opportunity to attract industrial investments that could support both domestic growth and export-led development.”Prof Lipumba added that rising tariffs have already contributed to a slump in global stock markets, with many experts forecasting a major slowdown in the global economy.He also observed that while some Tanzanian exports may suffer price declines, gold prices are likely to rise as global demand increases, potentially benefiting Tanzanian mining companies.Prof Lipumba warned, however, that without a clear economic roadmap, Tanzania risks missing out on strategic opportunities amid growing global uncertainty.Meanwhile, former Cabinet minister January Makamba weighed in on the issue via his X (formerly Twitter) account, stating that while the US market is sizeable, the broader impact of tariffs on Africa might remain limited.He noted that in the previous year, the US imported approximately $40 billion worth of goods from Africa—an amount equivalent to a single month of imports from Mexico. He added that even at its peak, Agoa contributed just 15 percent of US-Africa trade.Instead, Mr Makamba emphasised the importance of strengthening intra-African trade, which currently stands at 15 percent of the continent’s total trade volume. “In comparison, Europe’s intra-regional trade is 60 percent and Asia’s is 50 percent. If Africa can boost its internal trade to reach Asia’s level by 2040, we could double the continent’s GDP, create millions of jobs and significantly reduce poverty.”Another former Cabinet minister, Prof Anna Tibaijuka, also expressed concern over the growing trade tensions and called for a united African response.She warned that the gradual erosion of Agoa benefits, combined with potential disruptions in regional trade, could harm smaller African economies that lack the leverage to retaliate. Provided by SyndiGate Media Inc. (
Syndigate.info
).

How Tanzania should respond to Trump tariffs

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"Tariffs Are the Only Cure for Massive Financial Deficits with China and the EU": Trump

Unknown european union, international economics, international relations, international trade, politics

<img data-document-id="cms/api/amp/image/AA1CpLew" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CpLew.jpg"/>
<div class="content count-br">
 
 
 Washington DC [
 US
 ], April 7 (ANI):
 US
 President Donald Trump defended his administration's implementation of reciprocal
 tariff
 Regarding different nations, emphasizing their
 financial deficit
 s the
 US
 faces with nations like
 China
 as well as the European Union, contending that
 tariff
 The only way to address these trade imbalances is through tariffs.
 
 
 Donald Trump also criticised the trade surplus with these countries under former President
 Joe Biden
 , vowing to reverse it swiftly, while expressing his belief that
 tariff
 s would prove beneficial for the
 US
 .
 
 
 Sharing a post on social media platform Truth Social on Sunday (local time), Trump wrote, "We have massive
 financial deficit
 s with
 China
 , the European Union, and numerous others. The sole solution to this issue is through
 tariff
 which are now generating tens of billions of dollars for the
 US
 A. They are currently active, and quite a splendid sight to see."
 
 
 He added, "The surplus with these countries has increased during the 'Presidency' of someone often described as sluggish."
 Joe Biden
 We aim to turn this around swiftly, and one day people will come to realize that
 tariff
 Sure, "For the United States of America, they are truly a magnificent sight!"
 
 
 As stated by the Office of the United States Trade Representative,
 US
 total goods trade with
 China
 were an estimated
 US
 D $582.4 billion in 2024.
 US
 goods exports to
 China
 in 2024 were
 US
 D $143.5 billion, decreased by 2.9 percent (
 US
 D $4.2 billion) for 2023.
 US
 goods imports from
 China
 in 2024 totaled
 US
 D 438.9 billion, an increase of 2.8 percent (
 US
 D $12.1 billion) for 2023. The
 US
 goods trade deficit with
 China
 was
 US
 D $295.4 billion in 2024, representing a 5.8 percent increase (
 US
 D $16.3 billion) throughout 2023, according to the Office of the United States Trade Representative.
 
 
 On the other hand,
 US
 total merchandise trade with the
 EU
 were an estimated
 US
 D $975.9 billion in 2024.
 US
 goods exports to the
 EU
 in 2024 were
 US
 D 370.2 billion, an increase of 0.7 percent (
 US
 D 2.6 billion) starting in 2023.
 US
 goods imports from the
 EU
 totaled
 US
 D $605.8 billion in 2024, an increase of 5.1 percent (
 US
 D $29.4 billion) for 2023. The
 US
 goods trade deficit with the
 EU
 was
 US
 D 235.6 billion in 2024, a 12.9 per cent increase (
 US
 D 26.9 billion) over 2023.
 
 
 On April 2, Trump announced a widespread imposition of
 tariff
 s on countries worldwide. In February, soon after taking charge for the second time, Trump outlined a new trade policy focused on fairness and reciprocity and said that the
 US
 would implement reciprocal
 tariff
 s, charging other countries the same
 tariff
 s they impose on American goods.
 
 
 As per the announcements, the import
 tariff
 s on other major countries are
 China
 (34 per cent), the European Union (20 per cent), Vietnam (46 per cent), Taiwan (32 per cent), Japan (24 per cent), India (26 per cent), the United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), and Israel (17 per cent).
 
 
 From April 9 onwards, countries with the largest trade deficits with the
 US
 will face higher, individualised
 tariff
 s. India is one of the countries affected, with a 26 per cent
 tariff
 imposed on all its exports. (ANI)
 
 
</div>
Provided by SyndiGate Media Inc. (
Syndigate.info
).

"Tariffs Are the Only Cure for Massive Financial Deficits with China and the EU": Trump

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Washington DC [ US ], April 7 (ANI): US President Donald Trump defended his administration's implementation of reciprocal tariff Regarding different nations, emphasizing the…

Japan Seeks Tariff Exemption From U.S. Again, Trade Minister Urges

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Japan Seeks Tariff Exemption From U.S. Again, Trade Minister Urges

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Japanese trade minister Yoji Muto said Thursday that Tokyo will continue to request exemptions from U.S. tariffs after President Donald Trump said Washington will impose a 24 percent tariff on Japan…

Trump Slaps 10% Tariff on All Countries: New Rules Take Effect April 5

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<img data-document-id="cms/api/amp/image/AA1CbqkM" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CbqkM.jpg"/>
<div class="content count-br">
 
 
 Washington DC [
 US
 ), April 3 (ANI): After he announced the extensive
 tariffs
 worldwide,
 US
 President
 Donald Trump
 mentioned that a 10 percent duty will be applied to all nations starting from April 5th.
 
 
 Furthermore, beginning April 9, nations with significant trade deficits will be affected.
 US
 will face higher, individualised
 tariffs
 .
 
 
 In a factsheet entitled 'President Donald J. Trump Declares National Emergency to Enhance Our Competitiveness, Safeguard Our Sovereignty, and Fortify Our National and Economic Security,' The White House stated: “President Trump is utilizing his powers granted under the International Emergency Economic Powers Act of 1977 (IEEPA) to tackle the national crisis caused by an extensive and ongoing trade imbalance fueled by non-reciprocal trading practices and detrimental policies such as currency manipulation and excessive value-added taxes (VAT), which are enforced by certain nations.”
 
 
 The statement read, "Utilizing his powers under the IEEPA, President Trump plans to introduce a 10% tariff on goods from all nations. This measure will be implemented starting April 5, 2025, at 12:01 AM Eastern Daylight Time."
 
 
 The document also noted, “President Trump plans to introduce personalized elevated tariffs specifically for nations where the United States faces the most significant trade imbalances. Meanwhile, all remaining countries will keep facing the initial 10% tariff rate. These measures will commence on April 9, 2025, at 12:01 AM Eastern Daylight Time.”
 
 
 The tariffs will stay in place until President Trump decides that the threat from the trade deficit and the unfair trading practices has been addressed, settled, or reduced.
 
 
 The factsheet additionally noted, "The current IEEPA order includes modification powers, enabling President Trump to raise tariffs if trading partners respond with retaliation or reduce them."
 tariffs
 If trading partners make substantial efforts to address unequal trade practices and synchronize their policies with those of the United States regarding economic and national security issues.
 
 
 Significantly, Trump declared new import measures
 tariffs
 On Wednesday (in local time), details were provided regarding the tariffs to be applied globally, with India encountering a 26 percent duty.
 
 
 At the
 Make America Wealthy Again
 Trump stated, “When it comes to motorcycles, the U.S. imposes a mere 2.4% tariff on other nations. In contrast, countries such as Thailand apply tariffs of around 60%, India levies a rate of 70%, and Vietnam has an astonishingly high rate of 75%. Some countries go even further with their rates.”
 
 
 The
 US
 The president also stated that starting from midnight, a 25 percent tariff would be applied to all imported cars. "These extreme trade disparities have severely damaged our manufacturing sector and compromised our national security. While I do not fault those nations responsible for this disaster, I hold previous presidents and former leadership accountable as they failed to fulfill their duties..." he explained.
 
 
 The import
 tariffs
 Other significant contributors include China at 34 percent, the European Union with 20 percent, Vietnam at 46 percent, Taiwan contributing 32 percent, Japan at 24 percent, India with 26 percent, the United Kingdom accounting for 10 percent, Bangladesh at 37 percent, Pakistan at 29 percent, Sri Lanka with 44 percent, and Israel at 17 percent. (ANI)
 
 
</div>
Provided by Syndigate Media Inc. (
Syndigate.info
).

Trump Slaps 10% Tariff on All Countries: New Rules Take Effect April 5

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Washington DC [ US ), April 3 (ANI): After he announced the extensive tariffs worldwide, US President Donald Trump mentioned that a 10 percent duty will be applied to …

Trump's Tariffs: 46% Could Slam Nike, American Eagle, and Wayfair in Vietnam

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<ul>
 <li>
 A new 46% tariff on Vietnam could soon raise costs for major corporations in the apparel, furniture and toy space, and some of them may hike prices for consumers.
 </li>
 <li>
 The country became a popular alternative for companies trying to avoid the crossfire of U.S. trade tensions with Beijing.
 </li>
 <li>
 The duties will hit companies at a time when many consumers have become value-conscious and more selective about spending.
 </li>
</ul>
<img data-document-id="cms/api/amp/image/AA1Cb6Kb" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1Cb6Kb.jpg"/>

 Retailers and brands have turned to Vietnam to manufacture goods from sneakers to couches while moving some or all production out of China.


 For years, China's southern neighbor became a popular alternative for companies trying to avoid the crossfire of U.S. trade tensions with Beijing. Now, as President
 
 Donald Trump
 
 expands
 his tariff targets
 , they can no longer avoid it.


 Trump said he will put a 46% duty on imports from Vietnam as part of a new wave of global levies announced Wednesday. That could soon raise costs for major corporations in the apparel, furniture and toy space, and some of them may pass those increases to consumers in the form of price hikes. The tariffs on Vietnam take effect on April 9.


 For over twenty years, China was the top exporter of goods to the U.S., but now Mexico holds that position.
 surpassed China
 as the top source in 2023. China is now the
 second largest supplier
 to the U.S., accounting for $438.9 billion worth of goods in 2024, according to government data from the Office of the U.S. Trade Representative.


 For companies that have looked to diversify the countries they rely on for production and reduce risks from trade conflicts with China, Vietnam has also become a popular place to go. Imports from Vietnam grew to $136.6 billion in 2024, up about 19% from 2023, according to the Office of the U.S. Trade Representative.

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 On the other hand, imports from China rose only 2.8% from 2023 to 2024, according to government data. Imports from China dropped about 18% last year when compared to 2022, when the U.S. brought in $536.3 billion in goods from the country.


 The duties will hit companies at a time when many consumers have become
 value-conscious and selective about spending
 owing to ongoing inflation and worries about economic conditions
 
 .
 
 It remains uncertain at this point which firms will increase their prices because of the tariffs. Companies might hesitate to absorb these additional expenses, particularly since they anticipate weak consumer spending in the coming months.

<h4>
 The businesses at highest risk due to Vietnam tariffs
</h4>
<img data-document-id="cms/api/amp/image/AA1CaV7R" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CaV7R.jpg"/>

 Several well-known brands will be affected by the new Vietnamese tariffs. Nike produces roughly half of its shoes in both China and Vietnam, with approximately 25% manufactured specifically in Vietnam. According to a White House official speaking to DIwida.Blog & News, Trump plans to impose an additional 34% tariff atop the current 20% duty on goods imported from China, resulting in what would effectively be a 54% tax rate.


 The tariffs would pose an additional challenge for the major player in sneakers and athletic wear, who has already issued a letdown prediction for the present quarter. This outlook, which
 anticipates a drop in sales of more than ten percent
 During this three-month timeframe, we factored in the projected effects of tariffs imposed on goods coming from China and Mexico.


 Extended tariffs might hinder or decrease Nike's attempts to rejuvenate its brand and boost sales under its new CEO Elliott Hill, a long-time company employee who
 assumed command last autumn.


 Nike's stock fell over 6% during after-hours trading on Wednesday. Other key shoe manufacturers like Adidas have significant operations in Vietnam as well.


 The two companies did not immediately respond to DIwida.Blog & News's request for comment.


 In 2023, which provided the latest complete set of annual statistics, approximately one-third of all footwear imported into the U.S. originated from Vietnam. This information comes from the Footwear Distributors and Retailers of America, a trade organization for the sector.


 Steve Madden
 , for example, said on an earnings call in early November that it would slash its imports to the U.S. from China
 by as much as 45%
 over the next year. The footwear maker made that announcement just days after Trump's presidential victory, following his campaign trail promises to impose steep tariffs on countries like China.


 Yet one of the nations Steve Madden has accelerated its move to is Vietnam, along with Cambodia, Mexico and Brazil, CEO Edward Rosenfeld said at the time on the earnings call.


 Vietnam was the
 second largest country
 for suppliers of Ugg and Hoka parent company Deckers Brands as of this month. The company has 68 supply chain partners in Vietnam, which is surpassed only by its 125 suppliers in China. Deckers shares dropped nearly 9% in extended trading. The company did not immediately respond to a request for comment.

<img data-document-id="cms/api/amp/image/AA1CaV7S" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1CaV7S.jpg"/>

 VF Corporation, which is made up of footwear, apparel and accessories brands including The North Face, Timberland, Vans and Jansport, has a heavy reliance on China and Vietnam, too. About 38% of its suppliers are in China and 17% are in Vietnam, adding up to 55% of exposure across the two countries, according to a manufacturing disclosure from December.


 The company's shares dropped more than 8% in extended trading Wednesday. VF declined to comment, citing its quiet period before its upcoming earnings report.


 The furniture industry has also ramped up its reliance on Vietnam.


 In 2023, 26.5% of U.S. furniture imports came from the country, close behind the 29% coming from China,  according to data from the Home Furnishings Association, a trade group that lobbies on behalf of home goods retailers. The group cited investment banking firm Mann, Armistead & Epperson – one of the furniture industry's top sources for data.


 Taken together, that means about 56% of U.S. furniture imports come from both regions combined.


 On an earnings call in February, Wayfair CEO Niraj Shah said the shift to countries outside of China has been "a growing trend" since Trump enacted tariffs during his first administration.


 He said places like Cambodia, Indonesia, Thailand, the Philippines and Vietnam "have grown as places where folks have factories and where our goods are coming from."


 Wayfair's stock plunged about 12% in extended trading. In a statement, Wayfair said it is "closely monitoring the evolving trade landscape." The company added it is "well-positioned to continue offering customers the best possible combination of value, assortment, and experience."


 Toymakers have also leaned on Vietnam to make more merchandise that's imported and sold to kids and adults across the U.S. Hasbro, SpinMaster, Mattel and Crayola are among the companies that work with GFT Group, one of the largest toy manufacturers in the Southeast Asia.


 In addition to long-established manufacturing facilities in China, GFT currently has five production facilities in northern Vietnam that employ over 15,000 workers.


 On a call in early March, Funko Chief Financial Officer Yves LePendeven said the company, which is known for its big-eyed plastic collectibles called Pops, was working hard to control what it could in the year ahead. That includes trying to offset tariffs by "renegotiating factory costs, accelerating our shift in production to other sourcing countries, and implementing pricing adjustments," he said.


 On the call, he said about a third of Funko's global product purchases come from China. He didn't name the countries that Funko was moving production to, but it is a customer of GFT Group.


 Those toymakers did not immediately respond to DIwida.Blog & News's requests for comment.


 Curtis McGill is the co-founder of Hey Buddy Hey Pal, a toy company that specializes in Easter egg decorating kits. He said he expects the 46% tariffs to raise toy costs in the U.S., but added companies will likely be negotiating with suppliers in Vietnam to try to mitigate those hikes.


 "A lot of manufacturers and the actual toy companies have been already having conversations with manufacturing plants having to to help in some regards, because the toy companies are getting pressure to try and maintain prices on this side from the retailers," McGill said.

<h4>
 Where do manufacturers go next?
</h4>

 For companies, including apparel makers, the new tariff policies have raised questions about whether — and where — to potentially move their manufacturing. Last month, an investor asked American Eagle Outfitters about its exposure to Vietnam on its most recent earnings call.


 Chief Financial Officer Michael Mathias said the jeans and apparel brand's production is similar in Vietnam and China, with "high-teens to 20%" of production in each of those countries. He said the company aims to trim that back to single-digits by the back half of the year.


 American Eagle shares dipped more than 5% on Wednesday. The company did not immediately respond to DIwida.Blog & News's request for comment.


 Yet both Mathias and American Eagle CEO Jay Schottenstein said on the company's last earnings call that it will be crucial to stay flexible, while waiting to see how tariffs would play out and which countries would be targeted.


 Schottenstein referred to eight years ago during the first Trump administration, when American Eagle also faced challenges and had to figure out a new plan.


 Schottenstein said there's another shift coming, but "nobody knows what the story is yet."


 "I wouldn't be rushing," he said. "You go rush, where am I rushing to? I don't know where I'm rushing to."


 Peter Baum is the chief financial officer and chief operation officer of Baum Essex, a New York-based manufacturer with licenses to make products for brands like Nautica, Betsey Johnson and Steve Madden. During the first Trump administration in 2019, Baum moved factories from from China to the Philippines, Cambodia, Vietnam and India.


 He told DIwida.Blog & Newson Wednesday that the reciprocal tariffs would do massive damage to his company.


 "This is how you start a global depression. After 80 years and five generations Trump just put us out of business," Baum said.


 — DIwida.Blog & News's
 Sarah Whitten
 Jason Gewirtz and Eamon Javers were contributors to this report.

Trump's Tariffs: 46% Could Slam Nike, American Eagle, and Wayfair in Vietnam

Unknown business, commerce, economics, international economics, international trade

A new 46% tariff on Vietnam could soon raise costs for major corporations in the apparel, furniture and toy space, and some of them may hike prices for consumers. The country became a popul…

US Begins Levying New 10% Tariff on Trump's Goods in UAE

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US Begins Levying New 10% Tariff on Trump's Goods in UAE

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WASHINGTON, 5th April, 2025 (WAM) – U.S. customs officials started gathering President Donald Trump’s individual 10% charge tariff On all imports from numerous nations this Saturday, with increase…

How Will New U.S. Tariffs Affect European Wallets?

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The implementation of a 20% tariff on goods from Europe might result in deflation, causing decreased price levels within Europe.


 This could result from a rise in production both from China and within the European Union.


 "One factor contributing to reduced pricing within the EU will undoubtedly be increased exports from nations such as China, whose goods are increasingly directed toward European markets," said Niclas Poitiers, a researcher at the Bruegel institute, to Euronews.


 "The second reason explaining how Europe might experience a decline in prices is that certain exports intended for the United States are now staying within the European markets," he further stated.


 Suppose you currently impose high custom duties on Italian wine; as a result, more of this wine may enter the single market, leading to lower product prices.


 Reduced prices appear to boost the purchasing power and consumption among Europeans, which could consequently foster economic growth.


 However, on the contrary, deflation can be detrimental to the economy since it prompts families to delay their buying decisions, anticipating even lower prices in the future.


 This leads to a cycle where decreasing salaries result in increasing joblessness. Thus, we might pay less for goods, yet at what cost?

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<h2>
 Uncertainty ahead
</h2>

 According to Tobias Gehrke, who works as a researcher for the European Council on Foreign Relations (ECFR), the biggest threat to the economy stems from uncertainty.


 "These tariffs are across-the-board. They will impact all goods and exports moving from Europe to America, including items like machinery, chemicals, and automobiles. This could potentially impose a significant burden on these businesses," he explained to Euronews.


 The primary concern I see is the significant risk posed by this uncertainty. It might lead businesses to refrain from investing in Europe, which could result in detrimental consequences for employment and economic expansion within a period of several months or years.


 However, economists don't have a crystal ball, and there are many unknown factors that make predictions difficult.


 In particular, China's reaction and the EU's response will weigh heavily in the balance, while US President Donald Trump could also use tariffs as leverage in other negotiations.

How Will New U.S. Tariffs Affect European Wallets?

Unknown economic policy, economics, european economy, international economics, international trade

The implementation of a 20% tariff on goods from Europe might result in deflation, causing decreased price levels within Europe. This could result from a rise in production both from China and with…

PM Announces Emergency Measures as Trump Imposes Tariffs

Unknown economics, global economy, international trade, politics, politics and government

Keir Starmer
 is readying emergency measures to support British industry after
 Donald Trump
 sparked global chaos with his sweeping trade tariffs.


 The Prime Minister will announce action this week to bolster UK businesses who have been stung by the US President's 10 per cent tariff on goods imported into America.


 Mr Trump has also slapped a 25 per cent levy on foreign car imports, which has prompted Jaguar Land Rover to announce it will 'pause' shipments to the US.


 Sir Keir is anticipated to acknowledge that 'globalization has ended' following statements made by the US President that triggered an international trade conflict, resulting in significant turmoil in global financial markets.


 The
 FTSE
 On Friday, the 100 experienced its most significant decline in trading since the onset of the Covid-19 pandemic, with financial institutions being among those witnessing the steepest drops in value.


 The Prime Minister plans to deliver a speech unveiling new initiatives aimed at stimulating economic growth, amid growing concerns over an impending global recession.


 It is said that he plans to introduce portions of Labour's industrial strategy and simultaneously relax rules for electric vehicle producers.


 Meanwhile, Chancellor
 Rachel Reeves
 is set to step up efforts to achieve a trade deal with
 India
 while also securing a fresh agreement with Australia.


 The UK has been hit by Mr Trump's 'baseline' 10 per cent tariffs while others - such as the EU - have been stung by higher trade levies.


 A senior Labour minister this morning begrudgingly admitted that Britain dodging the higher tariff rate imposed on Brussels was a '
 Brexit
 dividend'.

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 Darren Jones, the Chief Secretary to the Treasury, said the UK had been 'treated differently to the EU' as a result of Brexit.


 Asked if the lower 10 per cent tariff imposed by the US was a 'Brexit dividend', he told Sky News: 'It is, there's one.


 'I've struggled to find one in the past but there is one we've ended up with. It's good, but what we're not going to do is pick or trade off the US or the EU.'


 Mr Jones said the Government would respond to Mr Trump's action in a 'calm-headed and considered way', adding that 'a trade war is in no one's interests'.


 But he rejected the US President's claim that Sir Keir was 'very happy' with the level of tariffs he has imposed on Britain.


 'Keir has been clear that he's unhappy about the tariffs,' the Treasury minister said.


 'I suspect what's being referred to there is the fact that the UK had the lowest tariff, and puts us in a much stronger position than other complex, large economies.'


 Mr Jones said this was 'a vindication of our engagement with the US in the run up to the President's announcements.


 'But clearly, we don't like tariffs; we're not happy about that,' he added.


 He confirmed 'there will be further announcements from the PM this week on support for British business' in the wake of Mr Trump's tariffs.


 In a later interview this morning, Mr Jones said globalisation had 'come to an end'.


 Asked the if era of 'cheap fast-fashion or cheap TVs' was over, he told the BBC's Sunday With Laura Kuenssberg programme: 'Yeah, it's ended.


 'The era of globalisation as we have experienced it over the past few decades is now at an end.'


 'That's why we need Britain to be strong and resilient, also build out our relationships with our allies and partners around the world.


 'However, the reason we must put money into the local economy is twofold: first, to benefit UK companies, and second, to enhance our public services. This way, we can develop a workforce and communities that are highly skilled and capable of seizing job opportunities within the country.'


 Writing in the Sunday Telegraph, Sir Keir said that when it comes to tariffs, 'the immediate priority is to keep calm and fight for the best deal'.


 The PM said that in the coming days 'we will turbocharge plans that will improve our domestic competitiveness'.


 He added: 'We stand ready to use industrial policy to help shelter British business from the storm.


 'This week, the Government will do everything necessary to protect Britain's national interest.


 'Because when global economic sands are shifting, our laser focus on delivering for Britain will not. And these new times demand a new mentality.'

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 Tory leader Kemi Badenoch said there is 'a place for tariffs' but that the ones imposed by the US will be 'destructive for businesses'.


 She told the BBC: 'The retaliatory tariffs will make people in our country poorer.


 There is a role for tariffs, and we have utilized them before; however, currently, their impact would be to increase living costs for British consumers.


 Mrs Badenoch spoke about the previous Conservative government negotiating a trade deal with Mr Trump's first White House administration in 2020.


 Ms Badenoch stated, "I would like the Government to continue from where we paused."


 We went through six negotiation sessions where certain decisions were reached, and these can be picked up and continued.


 'But the most important thing is removing tariffs. The tariffs are going to be destructive for our businesses.'


 Sir Keir has been taking calls from foreign leaders through the weekend to discuss the tariff changes.


 He shared his 'concerns' about the impact on global economics and security in a call with Emmanuel Macron, after separate conversations with the PMs of Italy and Australia on Friday.


 Mr. Trump has cautioned Americans that the tariffs "may not be simple," yet he has encouraged them to "stay strong."


 On his TruthSocial platform, the president posted: "For the first time ever, we are revitalizing jobs and businesses."


 So far, we have seen over FIVE TRILLION DOLLARS INVESTED, with the numbers climbing rapidly! THIS IS SHAPING UP TO BE AN ECONOMIC REVOLUTION, AND WE ARE CERTAIN TO EMERGE VICTORIOUS.


 'STICK IT OUT, it might not be simple, but the final outcome will be legendary.'

Read more

PM Announces Emergency Measures as Trump Imposes Tariffs

Unknown economics, global economy, international trade, politics, politics and government

Keir Starmer is readying emergency measures to support British industry after Donald Trump sparked global chaos with his sweeping trade tariffs. The Prime Minister will announce action this week…

Is Mnangagwa's Tariff Concession a Risky Bet to Please Trump at Zimbabwe's Expense?

Unknown commerce, economics, international economics, international trade, politics

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<div>
 
 Tendai Ruben Mbofana
 
</div>

 President Emmerson Mnangagwa’s latest decision to suspend all tariffs on United States goods, announced in response to new U.S. tariffs on Zimbabwean exports, is both baffling and dangerous.


 While President Donald Trump has declared a global tariff war under the guise of “reciprocity,” Zimbabwe’s reaction defies not only economic logic but also political common sense.


 It exposes, with striking clarity, a leadership more interested in appeasing foreign powers—particularly one led by a controversial and isolationist figure like Trump—than defending the interests of its own citizens.


 The global community has not taken Trump’s protectionist measures lying down.


 
 To directly receive articles from Tendai Ruben Mbofana, please join his WhatsApp Channel on:
 
 
 https://whatsapp.com/channel/0029VaqprWCIyPtRnKpkHe08
 


 Powerful economies such as China, Canada, and the European Union have responded with retaliatory tariffs, meant to safeguard their economies and send a clear diplomatic message.


 China, for instance, swiftly hiked its tariffs on U.S. imports to 34%, while Canada’s Prime Minister announced protective countermeasures that would shield Canadian industries and workers.


 These countries understand that international trade is a game of leverage.


 When one party weaponizes trade to the detriment of another, the only rational response is to push back—not surrender.


 Zimbabwe, on the other hand, has opted to do the complete opposite.


 Mnangagwa has not only refrained from reciprocating with similar trade restrictions but has thrown open the floodgates by scrapping all tariffs on U.S. imports entirely.


 This decision has been dressed in diplomatic language about “fostering mutual cooperation” and “constructive engagement,” yet its implications are economically catastrophic and politically submissive.


 Let’s begin with the economic aspect.


 Although tariffs can be misused, they serve as an essential mechanism for developing nations to shield emerging sectors from domination by powerful external competitors.


 Despite its frail and nascent economic structure, Zimbabwe depends significantly on these tariffs to support local industries, create governmental income, and uphold a certain level of trading equilibrium.


 Removing tariffs on American products will make domestic producers even more susceptible than they currently are.


 They are expected to compete, without any protection, against highly mechanized and subsidized U.S. producers whose scale of operation allows them to flood markets with cheap goods.


 This is not competition—it is annihilation.


 Zimbabwe’s already weakened industrial sector, operating in an environment riddled with power outages, limited access to finance, and poor infrastructure, will be unable to withstand the influx of cheaper U.S. alternatives.


 The consequences will be swift and severe: further factory closures, job losses, increased unemployment, and the complete erosion of domestic productive capacity.


 This action only speeds up Zimbabwe's process of de-industrialization.


 From a strictly financial perspective, Mnangagwa’s choice makes no sense.


 Customs duties form a substantial part of Zimbabwe’s revenue collection, particularly because the government struggles to track income from various taxes imposed on citizens, leading to losses caused by leaks, corruption, and poor management.


 By eliminating tariffs on American products, the administration is deliberately giving up crucial revenue.


 At this moment, when hospitals are short of essential medications, educators and healthcare providers receive inadequate compensation, and the nation finds it challenging to finance public services.


 Not only is this approach economically unsound, but it is also fiscally reckless.


 However, there is a more sinister aspect to this choice, revealing the genuine intentions driving this extraordinary benevolence towards Washington.


 There is no denying that the relationship between Zimbabwe and the United States has remained cold for many years, especially starting from the early 2000s when Washington introduced specific sanctions against high-ranking Zimbabweans.


 In 2024, President Mnangagwa, along with his spouse Auxillia and several of their associates, faced sanctions under the Global Magnitsky Act due to allegations involving human rights violations and significant corruption.


 Consequently, the U.S. seized their American-based monetary holdings, enforced restrictions on their movements, and barred Americans from participating in dealings with them.


 In this scenario, Mnangagwa’s unexpected advance starts to appear logical—not as part of a broader national policy, but rather as an individual appeal for mercy.


 By providing Trump with duty-free access to Zimbabwe’s market, the country’s president seems to be pursuing a pragmatic arrangement: an economic concession in hopes of securing political reinstatement.


 It appears he is counting on the U.S. to see his "show of good faith" as sufficient grounds for reconsidering or loosening the current sanctions policy.


 This isn't diplomacy—it's abasement.


 Moreover, this behavior is degrading at the cost of the Zimbabwean people.


 This isn't the first instance where Zimbabwe's leaders have prioritized appeasing foreign entities for their own gain over serving the public interest.


 During the late Mugabe era, similar concessions were made—whether in the form of unsustainable deals with the Chinese or desperate appeals to Western governments for reengagement, while ordinary citizens bore the brunt of economic mismanagement.


 Mnangagwa’s move mirrors that same pattern of elite self-preservation disguised as “engagement.”


 And yet, there is no indication that this act of appeasement will yield any tangible results.


 Donald Trump’s tariff strategy is not about engagement or reward.


 This stems from a simplistic nationalist economic strategy aimed at bolstering American manufacturing, decreasing trade imbalances, and solidifying his political support.


 Nations that have traditionally depended on American goodwill have discovered they were penalized rather than rewarded.


 Mnangagwa is clinging to an illusion: that his allegiance will win him favor.


 Actually, it is far more probable to be overlooked—or even perceived as a vulnerability ready to exploit.


 The true sorrow lies in the fact that Zimbabweans will bear the brunt of their leaders' pursuit of individual atonement.


 By eliminating all tariffs on American products, Mnangagwa has granted U.S. businesses unrestricted entry into Zimbabwe’s market without any protections, tax obligations, or corresponding trade advantages for Zimbabwean exports.


 This is not a "win-win" trade deal.


 It is economic exploitation masked as benevolence.


 The United States has much to gain—including increased market presence, new avenues for exports, and enhanced geopolitical influence—whereas Zimbabwe would only accrue more debt, foster greater dependence, and sink deeper into poverty.


 We must inquire: Was there any consultation with Parliament, local industries, or trade unions prior to announcing such a significant change in policy?


 Where can we find the economic impact assessment?


 Where is the transparency?


 The choice was made independently and shared via social media platforms without much consideration of the outcomes.


 This is not how trade policy should be conducted in a sovereign republic.


 Mnangagwa’s announcement marks a shameful moment in Zimbabwe’s post-independence history—a moment when a leader chose appeasement over principle, submission over strategy, and personal interest over national survival.


 It sends a chilling message to Zimbabweans and the world: that their government is willing to sacrifice economic sovereignty on the altar of political expediency.


 In the end, the real losers in this political game are the people of Zimbabwe.


 The employees set to lose their positions due to overseas competition, the business owners who will struggle against inexpensive imported goods, and the everyday people who will face higher costs as the nation loses income and sinks further into economic misery.


 Mnangagwa might think he is engaging in high-level diplomacy like a skilled chess player on the global stage, but in reality, he has simply surrendered control of the game.

<ul>
 <li>
 
 Tendai Ruben Mbofana is an advocate for social justice and also a writer. Don’t hesitate to call or send a WhatsApp message at: +263715667700 | +263782283975, or you can reach out via email:
 mbofana.tendairuben73@gmail.com
 , or visit website:
 https://mbofanatendairuben.news.blog/
 
 </li>
</ul>
Provided by Syndigate Media Inc. (
Syndigate.info
).

Is Mnangagwa's Tariff Concession a Risky Bet to Please Trump at Zimbabwe's Expense?

Unknown commerce, economics, international economics, international trade, politics

Tendai Ruben Mbofana President Emmerson Mnangagwa’s latest decision to suspend all tariffs on United States goods, announced in response to new U.S. tariffs on Zimbabwean exports, is both baff…