Latest news with #PhilipHeijmans
Bloomberg
03-07-2025
- Business
- Bloomberg
Trump's Vietnam Deal Stokes Asia Concern as Trade Deadline Looms
By , Ruchi Bhatia, and Philip Heijmans Save Vietnam's trade deal with the US is a wake-up call for Asian governments grappling with the reality that higher tariffs are here to stay. US President Donald Trump announced a 20% tariff on imports from Vietnam, and a 40% rate for goods transshipped through the country — a move mostly targeted at curbing Vietnam's trade with China. In return, Vietnam is slashing import taxes on US goods to zero.
Bloomberg
25-05-2025
- Business
- Bloomberg
US Tariffs Loom Over Asia Summit as Ties With China Strengthen
By , Philip Heijmans, and Netty Idayu Ismail Save Southeast Asian leaders start two days of talks from Monday, seeking to deepen ties with China and Gulf nations, and mitigate the fallout from US President Donald Trump's tariff hikes. Trade and economic cooperation will likely dominate the agenda of the 10-nation Association of Southeast Asian Nations summit taking place in Kuala Lumpur, along with conflicts in Gaza and Myanmar.
Bloomberg
19-03-2025
- Business
- Bloomberg
A New ‘China Shock' Is Destroying Jobs Around the World
From Indonesia to Mexico, job losses could mount as Trump's tariffs divert even more Chinese exports from the US. By , Philip Heijmans, and Prima Wirayani Near the Indonesian city of Surakarta, a one-time royal capital on the island of Java that's long been known for producing elaborate fabrics, dozens of once-bustling garment factories sit empty behind locked gates. At a coffee shop not far from the plant where he was employed for more than three decades, 53-year-old Hariyanto blamed cheap imports from China for the economic devastation. One of about 1,500 employees furloughed at an apparel maker last year, the former low-level manager is now leading a legal fight to get back pay and severance from the company, which is financially stressed and looking to sell off assets.
