“Postpone Tariffs”: Wary Vietnam Appeals Trump to Delay Enforcement

Vietnam has formally requested that the United States delay enforcement of a sweeping 46% tariff on Vietnamese exports, just days before the measure is set to take effect on Wednesday, April 9, 2025.

In a bid to avert major disruptions to its export-driven economy, Hanoi has asked for a pause of at least 45 days while both sides pursue negotiations, according to Vietnamese officials. The request was delivered during a meeting on Sunday between Deputy Prime Minister Bui Thanh Son and U.S. Ambassador Marc Knapper in the Vietnamese capital.

The move comes after Vietnamese Communist Party chief To Lam was among the first world leaders to speak directly with President Donald Trump following his announcement last week of blanket “reciprocal tariffs” on over 180 countries. Vietnam’s rate—one of the highest—has alarmed policymakers and business leaders across the country.

In a letter dated April 5, reportedly from Lam to Trump and circulating online, the Vietnamese leader urged the U.S. to postpone tariff implementation to allow time for diplomatic resolution. The New York Times cited the letter, though its authenticity has not been independently verified.

Meanwhile, Deputy PM Ho Duc Phoc, appointed as special envoy to the U.S., is leading a delegation to Washington and Cuba from April 6–16. Vietnamese officials say Phoc will engage in high-level talks aimed at securing a temporary delay of one to three months. “The decision to impose reciprocal tariffs is inconsistent with the current state of bilateral trade relations,” Son told the U.S. ambassador, emphasizing that the move undermines the spirit of the two countries’ comprehensive strategic partnership.

Vietnam has seen rapid economic growth in recent years, in part by capitalizing on shifting global supply chains amid U.S.-China trade tensions. The new tariffs now pose a serious risk to key sectors including electronics, textiles, and agriculture.

Thailand Ramps Up Imports, Indonesia Opts for Talks as US Tariffs Hit Southeast Asia

Thailand and Indonesia are taking markedly diplomatic approaches to the Trump administration’s sweeping new trade tariffs, as Southeast Asian nations scramble to respond to U.S. import duties that could significantly impact regional exports.

Thai Prime Minister Paetongtarn Shinawatra announced Sunday that Thailand will ramp up imports of U.S. energy, aircraft, and agricultural products in a bid to mitigate the fallout from a new 36% tariff on Thai goods entering the American market.

In remarks carried by Thai PBS, Shinawatra emphasized Thailand’s intent to maintain strong bilateral ties despite the steep levies, which she warned could hit major export categories such as electronics, processed foods, and agricultural commodities.

“We remain committed to a constructive economic partnership with the United States,” she said, adding that Thailand would also encourage Thai firms to invest more in the U.S. and ease existing import restrictions on American goods.

Thailand’s Finance Minister Pichai Chunhavajira is expected to travel to Washington in the coming days to lead high-level discussions with U.S. officials and private sector stakeholders.

Indonesia Harps on Diplomacy

Neighboring Indonesia also signaled its preference for diplomacy after the U.S. imposed a 32% tariff on Indonesian exports. Coordinating Minister for Economic Affairs Airlangga Hartarto told Antara News that Jakarta will pursue negotiations with the U.S. to address the situation.

“We are not planning retaliatory measures at this time,” Hartarto said. “Our focus is on finding a mutually beneficial outcome through dialogue.”

The new tariffs are part of a broader trade strategy unveiled by President Donald Trump last week under the banner of “Liberation Day,” which imposed duties ranging from 10% to 50% on imports from more than 180 countries. While the U.S. says the move is meant to protect domestic industries, critics warn it could spark a wider trade conflict.

Both Thailand and Indonesia are key U.S. trading partners in Southeast Asia, and their tempered responses reflect a broader regional strategy of maintaining access to the U.S. market while avoiding escalation.

More updates to follow as talks progress and other nations respond.

Latin America Reacts to Trump’s Sweeping Tariffs as Mexico Remains Relieved For Now

Latin American governments and analysts are reacting to U.S. President Donald Trump’s sweeping new tariff plan, which was unveiled Tuesday under the banner of “Liberation Day.” The executive order introduces a wide range of import duties — from 10% to as high as 50% — targeting over 180 countries and dramatically altering the global trade landscape.

While much of the Western Hemisphere faces a standard 10% tariff, some nations were hit harder. Guyana (38%), Nicaragua (18%), and Venezuela (15%) were among the most affected in the region.

Mexico and Canada, though not part of the broader announcement, continue to face 25% tariffs on auto imports and other goods not covered under the USMCA — a move that has stirred debate over the agreement’s future.

Mexico Relieved, But Not Celebrating

Speaking to media outlets, economists in Mexico described the mood as “relieved but cautious.” Compared to steep tariffs on other trading giants — China (34%), Japan (24%), and the EU (20%) — Mexico’s relatively unchanged position may bring short-term advantages via trade diversion, where U.S. importers shift sourcing to Mexico to avoid higher duties.

“There’s a sense of short-term relief here,” said Sergio Luna, a prominent Mexico City-based economist. “But it’s important to remember that Mexico’s baseline has worsened. These unilateral U.S. measures appear to conflict with the spirit, if not the letter, of the USMCA.”

The Mexican peso was among the top-performing currencies against the dollar following the announcement, reflecting investor confidence that Mexico may benefit in the short term — especially in agriculture and vehicle exports, where content rules still favor regional production.

However, concerns remain. Mexico’s economy is deeply tied to U.S. demand, with 80% of exports headed north and a trade-to-GDP ratio of over 70%. A full-blown trade war or economic slowdown in the U.S. would inevitably spill over. Luíza Pinese, an economist at XP Investimentos in São Paulo wrote: “The market reaction in Brazil has been quite positive, reflecting a sense of relief and that Brazil could be a relative “winner” in the global trade war.”

No Formal Response Yet From Mexico City

So far, Mexican officials have remained quiet on whether they will pursue legal action under USMCA’s dispute resolution process. Analysts note that by allowing unilateral tariffs, the U.S. may be undermining the framework of North American economic cooperation.

As trade tensions ripple through global markets, countries across the Americas are bracing for secondary impacts — from supply chain disruptions to inflationary pressures.

More updates to follow as regional governments and business leaders respond.

“It’s Not Good News”: Reacts Singapore, Sounds Alarm Over Trump’s Tariff Blitz

Singaporean leaders are issuing stark warnings after U.S. President Donald Trump unleashed sweeping global tariffs, with Prime Minister Lawrence Wong calling it a direct threat to the city-state’s economy and a step toward a global trade war.

“It will spell trouble for all nations, especially small ones like Singapore,” Wong said in a video address Friday evening. “We risk being squeezed out, marginalised and left behind.” The U.S. tariffs — a universal 10% minimum levy on all imports, including those from Singapore — are already rattling markets. The Straits Times Index plunged 8.7% on Monday, its steepest drop since the 2008 financial crisis.

Wong’s predecessor, Senior Minister Lee Hsien Loong, also weighed in Sunday, warning that the fallout could be deep and long-lasting. “It’s going to affect our trade, our economy, our region — and our future,” Lee said at a community event. “It’s not good news.”

Singapore’s government is now re-evaluating its 2025 growth forecast, which was already downgraded to 1–3% before the tariffs were announced — a sharp fall from 4.4% growth in 2024.

The timing of the tariff shock adds political tension ahead of Singapore’s upcoming general election. Cost-of-living pressures and economic fears are top issues for voters, and the ruling People’s Action Party (PAP) is under pressure to avoid a repeat of its poor 2020 showing, when it won its lowest-ever share of the vote.

Opposition voices are questioning the government’s tone. Tan Cheng Bock, chairman of the Progress Singapore Party, accused PAP leaders of “scaremongering.” “This call by the government ministers about the tariff, in my opinion, is partly to instil fear in the voter,” Tan said. “Don’t just make statements of this kind and scare everybody.”

Singapore, heavily reliant on trade and multinational investment, now faces tough decisions as global economic uncertainty deepens — with Trump expected to escalate tariffs again within days.

Nissan Halts U.S. Orders for Mexico-Built Infiniti SUVs

Nissan has suspended all new U.S. orders for its Mexican-built Infiniti SUVs following the implementation of sweeping new U.S. auto tariffs, marking one of the first major manufacturer pullbacks triggered by President Donald Trump’s 25% levy on foreign-made cars and trucks.

In a statement Thursday, the Japanese automaker confirmed it will no longer accept U.S. orders for the Infiniti QX50 and QX55 SUVs, both produced at the COMPAS plant in Aguascalientes, Mexico — a joint venture with Mercedes-Benz. “Production will continue for other markets,” a Nissan spokesperson said, citing Canada and the Middle East, but no new U.S. orders will be taken for the two models.

The move underscores the immediate disruption caused by Trump’s tariffs, which went into effect at midnight Thursday. Nissan is particularly exposed, exporting more vehicles from Mexico to the U.S. than any other Japanese automaker.

At the same time, Nissan reversed plans to scale down production at its U.S. plant in Smyrna, Tennessee, saying it will maintain two production shifts for its Rogue SUV despite an earlier plan to cut one shift this month.

The automaker, already grappling with an aging lineup and limited hybrid offerings, has slashed profit forecasts three times in the past year and recently saw its credit rating fall to junk status. The new tariffs may further squeeze margins on its North American operations. “This is a significant blow to Nissan’s U.S. strategy and could have ripple effects across its North American supply chain,” said one industry analyst.

The COMPAS plant, which also produces the Mercedes-Benz GLB SUV, may face broader operational questions if the U.S. tariff regime persists.

Newly appointed Nissan CEO Ivan Espinosa, a Mexican national, has vowed to streamline vehicle development and restore profitability — but the U.S. tariff shock now adds a new layer of urgency.

Japan, China, South Korea Join Hands to Face Off US Tariff Shock

In a rare show of regional unity, Japan, China, and South Korea have agreed to accelerate economic cooperation and revive stalled free trade talks, as U.S. tariffs threaten to upend global trade flows and hit Asia’s export-reliant economies.

Meeting for the first time in more than five years, trade ministers from the three nations issued a joint statement Sunday committing to “deepen trilateral cooperation” and fast-track negotiations toward a long-delayed free trade agreement.

The talks come just days before U.S. President Donald Trump is expected to unveil a new round of tariffs, which he’s called “Liberation Day,” including a sweeping 25% duty on all foreign-made vehicles and auto parts — a move that could hit Japan especially hard. “We reaffirmed the importance of working together,” Japan’s Trade Minister Yoji Muto said following the meeting in Seoul. “In the face of emerging global challenges, Japan, China and South Korea must lead the way in stabilizing the regional economy.”

Muto met with his Chinese counterpart Wang Wentao and South Korea’s Ahn Duk-geun, where the three agreed that negotiations for a Trilateral Free Trade Agreement (FTA) — stagnant since 2012 — must now gain urgency.

The ministers also jointly voiced support for the World Trade Organization and called for reforms to strengthen its role in a time of rising protectionism and fractured supply chains. “We stand by a rules-based, open and non-discriminatory trading system,” the statement read, emphasizing the need for WTO reform and stronger multilateral mechanisms.

The urgency stems from Trump’s escalating trade actions. The White House’s new tariff plan, set to take effect midnight Thursday, has already rattled Asian markets and threatens key export sectors.

According to the Japan Research Institute, the new U.S. auto tariffs alone could slash Japan’s domestic vehicle production by 4.3%, with auto exports to the U.S. making up nearly 30% of total exports in 2024.

The trilateral meeting also touched on expanding cooperation in critical areas such as supply chain resilience, digital trade, local business exchanges, and implementation of the Regional Comprehensive Economic Partnership (RCEP) — a massive trade pact among 15 Asia-Pacific nations. The U.S. is not a member.

With the three Northeast Asian nations accounting for over 20% of the global population and 23.4% of global GDP, their renewed push for closer economic coordination marks a significant counterweight to the rising tide of U.S. protectionism.

As trade tensions escalate globally, all eyes will now be on Washington this week — and how Tokyo, Beijing, and Seoul respond to the next wave of economic shocks.

PM Ishiba Urges Calm, Vows Support for Kaishas as US Tariffs Hit Japan

As the impact of U.S. tariffs begins to ripple through the Japanese economy, Prime Minister Shigeru Ishiba has pledged to push back against the levies while rolling out emergency support for affected industries — but warned local businesses that relief may take time.

Speaking before parliament on Monday, Ishiba said Tokyo will continue urging U.S. President Donald Trump to reconsider his decision to impose sweeping tariffs on Japanese imports, including a 25% duty on automobiles and a 24% tariff on other goods.

“We will ask the United States to reverse these measures,” Ishiba told lawmakers. “But this won’t be resolved overnight. In the meantime, the government must act swiftly to protect jobs and stabilize our local economy.”

The announcement follows a steep 9% plunge in the Nikkei 225 index early Monday, driven by fears of a global recession. Economic analysts have warned that the new tariffs could shave nearly 0.8% off Japan’s GDP, with major exporters and local manufacturers likely to feel the pressure first.

Ishiba, who returned Sunday night from a late meeting with his top economic team, has instructed ministers to explore funding assistance for affected companies, particularly small and mid-sized businesses in Tokyo, Nagoya, Osaka, and other industrial hubs.

“We will not stand by and watch our communities suffer,” Ishiba said. “Our response will include targeted financial aid, workforce protections, and emergency trade measures where necessary.”

Residents in auto-producing regions such as Aichi Prefecture and Tochigi have expressed concern over potential job cuts and production slowdowns. Local government officials are expected to coordinate with national ministries to assess the impact and prepare assistance packages.

The Prime Minister also left the door open for a face-to-face meeting with President Trump in Washington, hinting that Tokyo may offer a cooperative economic package to restart talks.

“But any negotiation must be grounded in fairness and mutual respect,” Ishiba added. “Japan has done nothing to warrant such punitive trade actions.”

With tensions rising and markets jittery, local businesses and consumers alike are bracing for potential price increases and reduced exports. The national government is expected to announce initial relief measures later this week.

China Holds Yuan Line as Trump Tariffs Jolt Asian Markets

As fresh U.S. tariffs send shockwaves through global and Asian markets, China’s central bank has remained to keep its currency stabile over a sharp devaluation — for now. On Monday, the People’s Bank of China (PBOC) set the yuan’s daily midpoint at 7.1980 per U.S. dollar, a four-month low, but crucially still shy of the symbolic 7.2 threshold.

Trump’s announcement last week of a 34% tariff on Chinese imports triggered immediate volatility, with the offshore yuan tumbling to 7.349 before partially rebounding. But the PBOC’s restrained response indicates a strategic calculation: signal strength, not surrender.

“Emerging market currencies are under heavy pressure from U.S. tariff shocks, and today’s fixing reflects that,” said Ding Shuang, chief Greater China economist at Standard Chartered. “But holding the line at 7.2 shows the central bank is prioritising yuan stability over short-term retaliation.”

The yuan’s performance is now being closely watched as both an economic indicator and a political message. Analysts see the currency as a key bargaining chip in Beijing’s broader trade strategy. A deeper devaluation could cushion exporters hit by tariffs — but it also risks triggering capital outflows, investor panic, and renewed accusations of currency manipulation from Washington.

“There’s a gap between the offshore rate and the official fixing,” said Chen Zhiwu, chair professor of finance at the University of Hong Kong. “But the controlled depreciation suggests the PBOC wants to keep the yuan as a steady anchor in turbulent waters.”

China responded to Trump’s latest tariffs with an equivalent 34% levy on U.S. goods and new restrictions on select American firms. Yet despite rising tension, the PBOC has repeatedly stressed that preventing “exchange rate overshooting” remains a top priority.

“If talks resume, a stable yuan gives China leverage,” Chen added. “And if progress is made, a slight appreciation could be used as a goodwill gesture.”

For now, the message from Beijing is clear: even amid trade war tremors, China is keeping the yuan firmly under control — though how long that restraint holds may depend on Washington’s next move.

Goldman Sachs Ups Risk Forecast For Recession From 35% to 45%; Trump Unmoved

Goldman Sachs has sharply raised its estimate for the likelihood of a U.S. economic downturn within the next year to 45%, citing tightening financial conditions and growing uncertainty over economic policy.

The revised forecast — up from 35% — underscores the potential impact of President Donald Trump’s tariff measures, which have disrupted trade flows and rattled investor confidence. Analysts warn that these actions could weigh heavily on corporate investment and consumer demand, increasing the risk of a broader economic slowdown.

Tech and consumer goods sectors are particularly vulnerable, it said as Apple shares plunged 9.3% on Thursday — the company’s steepest single-day drop since March 2020. Concerns mounted over how tariffs on imported components might impact pricing. With more than 220 million iPhones sold annually, Apple now faces a tough decision: absorb rising costs or pass them along to consumers, potentially raising prices by 30–40%.

Apart from Goldman Sachs, J.P. Morgan has already raised its own projection, estimating a 60% chance of a U.S. and global recession. The revisions reflect a growing consensus among top financial institutions that the economic headwinds from trade disruptions are more severe than previously anticipated.

In Europe, investors are also feeling the heat. The continent’s major indexes closed the week in negative territory, with the Stoxx 600 falling 5% on Friday and down over 8% for the week — its worst performance this year. Luxury retailers were among the hardest hit, with the Stoxx Luxury 10 index posting a 5.2% loss, its steepest decline in nearly four years.

Trump Unmoved
Despite the mounting turmoil, President Trump remains undeterred, posting on Truth Social: “CHINA PLAYED IT WRONG, THEY PANICKED — THE ONE THING THEY CANNOT AFFORD TO DO!”

While today’s combination of tightening financial conditions and rising geopolitical risk is raising alarm bells across the financial world, the Trump Administration is unmoved highlighting on 50 nations rushing to White House to hold talks on tariffs.

As policymakers, businesses, and investors navigate this turbulent landscape, hopes rest on a diplomatic resolution to the trade disputes. Without it, the risk of a prolonged downturn — both in the U.S. and globally — may grow harder to avoid.

Asian Markets In Red As US Tariffs Trigger Global Selloff

Asian stock markets plunged on Monday as the economic shock from sweeping new U.S. tariffs sent tremors across global financial markets. Investors across the region reacted with alarm, fearing that an escalating trade war could tip the world’s largest economy into a recession — with serious fallout for export-driven nations in Asia.

Markets in Tokyo, Shanghai, Hong Kong, and Sydney opened sharply lower, with widespread losses wiping out billions in market value. “It’s a bloodbath out there,” remarked one analyst, reflecting the scale of the rout.

By midday, Japan’s Nikkei 225 had shed 6%, Australia’s ASX 200 was down 4%, and South Korea’s Kospi fell 4.7%. Mainland China, Hong Kong, and Taiwan saw even sharper declines, as investors returned from public holidays and reacted to last Friday’s global downturn. The Shanghai Composite dropped more than 6%, while the Hang Seng and Taiwan Weighted Index plunged by around 10%.

The market chaos follows a fresh round of tariffs announced by President Donald Trump, including sweeping 10% duties on goods from a wide range of countries, with some targeted rates as high as 46%. The tariffs hit key trading partners like China, the European Union, Vietnam, and Bangladesh especially hard.

“Tariffs are stoking concerns about inflation and the real risk of a U.S. recession,” said Julia Lee of FTSE Russell. “The knock-on effects for global markets, especially in Asia, are becoming harder to ignore.”

Wall Street has taken notice. Goldman Sachs raised the probability of a U.S. recession in the next 12 months to 45%, up from 35%, citing weaker growth prospects. JPMorgan went further, projecting a 60% chance of both a U.S. and global recession.

The stakes are high for Asia, where economies depend heavily on exports to the U.S. “Asia is bearing the brunt of these tariff hikes,” said Qian Wang, Chief Economist for Asia Pacific at Vanguard. “Smaller, open economies will face both short- and long-term challenges.”

Vietnam and Bangladesh are among the most exposed. The U.S. imposed new tariffs of 46% on Vietnamese goods and 37% on imports from Bangladesh — two key apparel suppliers to American brands like Nike and Lululemon. According to the Bangladesh Garment Manufacturers and Exporters Association, the country ships $8.4 billion in garments to the U.S. each year.

“Asia’s heavy reliance on U.S. markets makes it particularly vulnerable,” said Frank Lavin, a former U.S. Undersecretary for International Trade. “The region is feeling the sharp end of the trade dispute.”

Markets in the U.S. also closed last week with heavy losses after China responded with its own tariff measures. The S&P 500 slumped nearly 6%, while the Dow and Nasdaq also dropped more than 5%, marking the worst week for U.S. stocks since 2020. European markets were dragged down as well, with the FTSE 100 falling almost 5% — its steepest drop in five years — and similar declines seen in Germany and France.

With U.S. futures pointing to another tough session, investors around the world remain on edge. “There’s no clear end in sight to this tariff war,” Lee warned. “Markets are bracing for more pain.”

Since the U.S. announced its sweeping trade measures, global equities have lost trillions in value — underscoring the far-reaching economic risks of protectionism in an interconnected world.

Exit mobile version