When it comes to gauging what impact the US president's tariffs could have, experts warn the space is highly unpredictable.
A mix of trade tensions, COVID-19 and shutdowns have already led many firms in China to set up shop in South-East Asia n nations.Experts say the complexity and cost of moving production, as well as questions over further US sanctions, could slow potential moves into South-East Asia n markets.Share article
Diversifying away from China, a slew of new factories opened in countries including Vietnam, Thailand, Malaysia, Indonesia and Cambodia.Which countries could benefit?When it comes to gauging what impact the tariffs may have, experts warn this space is highly unpredictable. "Firms are very entrepreneurial, especially firms out of China because it's cut-throat competition — if you survive in China, you can survive anywhere. And so they're very good at finding a market niche that works for them."
Shoemaker Steve Madden was an example of a company looking to alternative countries, including Cambodia, Vietnam, Mexico and Brazil, amid US tariff woes.Photo shows close up of china president xi jinping and US president donald trump "If these measures continue or increase, then they will mainly be negative spillovers on the South-East Asian region," he said.Reuters: Carlos BarriaDr Elms said if there were Chinese content or raw materials in products made in a third country, they might now be subjected to tariffs.
Vivienne Bath, a professor of Chinese and international business law at the University of Sydney, said the prospect of tariffs did not tell the full story.
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