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ASEAN

Trump’s Tariffs Are Uniting China, Europe, Japan, South Korea, And ASEAN

May 10, 2025 Ben Norton, Geopolitical Economy. , , , , , , ,
Trump’s Treasury Secretary Scott Bessent revealed that the US government has what he called a “grand encirclement” strategy aimed at isolating and weakening China. Trump hit China with tariffs of 145%, imposing what is essentially a trade embargo. The Trump administration wanted to pressure Japan, South Korea, Vietnam, and India to follow the US and “approach China as a group”, Bessent said, according to Bloomberg. This strategy is clearly failing. The finance ministers and central bank governors of China, Japan, South Korea, and members of the Association of Southeast Asian Nations (ASEAN) met in Italy on May 4 and published a joint statement pledging “to further strengthen regional financial cooperation”.

This Is Why Trump’s Tariffs Will Fail

April 5, 2025 Ben Norton, Geopolitical Economy. , , , , , , , , ,
In his first term as president of the United States, Donald Trump launched a trade war against China. In his second term, he has expanded that trade war to many countries around the world. In a ceremony outside the White House on April 2, which the US president dubbed “Liberation Day”, Trump announced sweeping new tariffs on dozens of countries, including high taxes on imports from top US trading partners: 54% on China, 46% on Vietnam, 25% on South Korea, 24% on Japan, and 20% on the European Union. Trump falsely claimed that these tariffs were “reciprocal”, but they were actually unilateral.

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