New US tariffs draw regional reactions across Asia-Pacific
On Thursday, US President Donald Trump signed an executive order modifying tariff rates for dozens of countries, ahead of his self-imposed Aug 1 trade deal deadline.
Taiwan described the new 20 per cent US tariff on its goods as "provisional,' with President Lai Ching-te expressing hope that the rate would be lowered in a final agreement.
He noted that both sides had completed technical consultations while protecting Taiwan's national and industrial interests, said AA.
Thailand welcomed the tariff cut to 19 per cent from a previously proposed 36 per cent, with Deputy Prime Minister and Finance Minister Pichai Chunhavajira saying the move reflects a strong US-Thailand partnership and will bolster economic growth.
Cambodia, which previously faced a 49 per cent tariff, welcomed the reduced 19 per cent rate, while also revealing a purchase of 10 Boeing aircraft from the US.
Bangladesh successfully negotiated its tariff down to 20 per cent from a proposed 35 per cent.
"That's good news for our apparel sector and the millions who depend on it," said Bangladesh Security Adviser Khalilur Rahman.
New Zealand, however, criticised the 15 per cent tariff imposed on its exports, calling it "unwarranted.'
Trade Minister Todd McClay told Radio New Zealand (RNZ) that his country was being unfairly penalised over a relatively small trade imbalance with the US, AA added.
Under the new order, the US imposed varied tariffs on several Asia-Pacific nations; 15 per cent on Afghanistan, 20 per cent on Bangladesh, 25 per cent on Brunei, 19 per cent on Cambodia, 25 per cent on India, 19 per cent on Indonesia, 15 per cent on Japan, 40 per cent on Laos, and 15 per cent on Fiji.
Tariffs were also set at 19 per cent on Malaysia, 40 per cent on Myanmar, 15 per cent on New Zealand, 19 per cent on Pakistan, 15 per cent on Papua New Guinea, 19 per cent on the Philippines, 15 per cent on South Korea, 20 per cent on Sri Lanka, 19 per cent on Thailand, and 20 per cent on Vietnam. - Bernama-Anadolu
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