The global trade system is facing a week of uncertainty when it comes to tariffs. And that's especially true when it comes to Asia.
Whatʻs the impact? How long will it linger? What comes next?
These are some of the tariff questions bouncing around the Asia Pacific this week. Some of the answers vary by location.
The immediate calculations show tariffs likely going up slightly for Australia, coming down a bit for China, India, and much of Southeast Asia — and staying roughly the same for Japan and South Korea.
A lot of that is based on trade deals that were reached before Friday's Supreme Court decision that blocked a range of tariffs. In other cases, the timing of the decision is now a political factor.
India had just reached a deal with the U.S., but a trade team from New Delhi has now postponed a trip to Washington that was scheduled for this week.
China's Commerce Ministry announced Monday itʻs “conducting a comprehensive assessment” of the impact of the Supreme Court ruling. And not all products are affected.
Tariff exemptions range from semiconductors made in Taiwan to pharmaceuticals coming from Singapore.
The clock is already ticking on a new round of U.S. tariffs that started Tuesday, under a new executive order. These are limited to 150 days — meaning they expire in late July, unless they are extended by Congress.
