Southeast Asia’s export powerhouses saw their trade surpluses with the US expand last year, despite Washington’s tariffs.
The figures from Malaysia, Thailand, and Vietnam — which were all hit with high US duties last April — showed the countries continued to ship more to the US than they purchased, likely because of front-loaded deliveries, Nikkei reported.
At the same time, their trade deficits with China widened, reflecting the heft of Beijing’s export engine. Global trade winds have been highly volatile since US President Donald Trump returned to the White House last year.
The US’ overall trade deficit has whipsawed, and there’s no expert consensus on how Trump’s policies will impact the trade balance in the long term.