Cambodia, Laos, and Myanmar are on track to face tariff rates of 49%, 48%, and 44%, respectively.
All three have maintained close economic and political ties with China. Only a handful of other nations have to deal with a higher or equal level of import taxes, including Lesotho (50%), Madagascar (47%), and Vietnam (46%).
China itself must contend with a total US tariff rate of 54% — the highest out of anywhere in the world. But China’s response was swift: On Friday, Beijing retaliated against Trump’s tariffs with a 34% tariff on all goods imported from the US.
Analysts and researchers who study the area told Business Insider the tariffs would probably push China’s allies closer to Beijing, giving China’s leader, Xi Jinping, an opportunity to strengthen his hold on a region that his country greatly values.
“Strategically, the US is now handing a victory to China in the US-China competition,” said Vina Nadjibulla, the vice president of research and strategy at the Asia Pacific Foundation of Canada.
Source: Africabusinessinsider
