Donald Trump signed the decree for dozens of countries, including several in Asia, in the night from Thursday to Friday to Friday, including several in Asia, which welcomed the news between relief and spite. The application is postponed to August 7.
Asia woke up on Friday 1is August with the announcement by Donald Trump of a series of new customs from customs which will be imposed on August 7: rates welcomed according to the country with relief, with resignation or with the determination of negotiating a better compromise.
Taiwan is targeted by surcharge of 20%, but this is a rate “Temporary (…) with the possibility of an additional drop in the event of agreement”assured the Taiwanese president Lai Ching-te on Facebook. His government “Will endeavor to obtain a reasonable level of customs duties”he insists. The postponement of the application of new taxes to August 7 offers a window for final talks.
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Local entrepreneurs say they fear that the drop in rights granted by Washington in Japan and South Korea at 15% gives the firms in these countries a competitive advantage compared to Taiwan.
Thailand salutes a «major success»
Thailand and Cambodia have 19% of rights, much less than the 36% of which they were threatened, in the wake of a truce between the two countries after several days of conflict. Thailand welcomed Friday as a “Major success” The announcement of American surcharge. “This is a win-win approach aimed at preserving the exporting base and long-term economic stability of Thailand”assured the government spokesperson Jirayu Huangsab.
A fifth of Thai exports, mainly manufactured products, are intended for the United States. “This is the best news for the people and the economy of Cambodia, in order to continue the development of the country”reacted the Cambodian Prime Minister Hun Manet on Facebook. The neighboring Vietnam had concluded an agreement with Washington in early July on a rate reduced to 20%.
Important detail for countries in Southeast Asia, whose production channels are closely linked to China: the United States intends to surcharge goods transported to the United States by 40% by transiting through third countries (so-called method of “Transhipment”) in order to escape taxes targeting the country of origin.
Japan worried about its automotive sector
However, for lack of details in the immediate future, analysts and companies wonder about how Washington will define a good “Transhipé”. The White House was satisfied on Thursday to announce that“A list of specific countries and installations used in bypass systems” will be published. “”The application of the law will probably be difficult and, even if these commercial reorientations are reduced, the diversion ” will continue and “Will continue to alleviate the impact of American taxes on Chinese exports”estime Leah Fahy, de Capital Economics.
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Tokyo had concluded an agreement with Washington so that Japanese products were surcharged at 15%, below the 25% of which the archipelago was threatened, and obtained total customs duties of 15% for its crucial automotive sector, which represents almost 30% of exports to the United States. Car and car exports to the United States have already been taxed at 25% since April.
But if the surcharges say “Converse” Imposed in Japan must apply to August 7, the date of implementation of the new rate on the automotive sector remains to be specified. “The Japanese government will continue to call on the United States to quickly take measures to implement the recent agreement, in particular by reducing rights to cars and spare parts”reacted on Friday Yoshimasa Hayashi, government spokesperson.
In addition, divergences of interpretation emerge on the $ 550 billion that Tokyo would have committed, according to the White House, to invest in the United States-the Japanese negotiator having mentioned in front of the press simple loans and guarantees.
Asian markets are retreating, under pressure
Asian scholarships are back in concert on Friday, under pressure after the announcements. Around 02h00 GMT on the Tokyo Stock Exchange, the Nikkei star index fell 0.37% to 40,916 points, and the broader Topix index from 0.38% to 2,954 points. On the Seoul Stock Exchange, the Kospiti index fell 2.76%. Sydney fell 0.82%, Taipei by 0.45%and the Hong Kong Hang Seng index ceded 0.11%.
“These announcements bring clarity on paper, but uncertainty in practice: if the markets now know the figures, the absence of a clear framework and apparently arbitrary rates only strengthen the feeling of unpredictability”tempers Charu Chana, strategist at Saxo Markets. “It is more difficult for companies and investors to project themselves”she warns, quoted by Bloomberg. In this context, investors remain wait -and -see.
