Deborah Ball
Appearances
WSJ What’s News
A New Global Trade Order Takes Shape
Yes, the Southeast Asian countries got hit, Vietnam very hard. China has all told their tariffs are now up to about 70% of goods going into the U.S. on top of the previous tariffs. So I think we feel that there could be a pretty significant rewriting and rewiring of supply chains that have been running through China.
WSJ What’s News
A New Global Trade Order Takes Shape
Southeast Asia, a lot of countries had moved away from China, out of China and into areas in particular like Vietnam. There was a massive move after the first round of Trump tariffs in his first term. And now Vietnam has huge tariffs. So I think the impact on the Chinese economy will be significant. This is hundreds of billions of dollars worth of exports that are now being tariffed.
WSJ What’s News
A New Global Trade Order Takes Shape
So we think basically this will be kind of a diversion of a lot of these trade routes into other countries. What's unclear is where they could go, which countries could provide a bit of a safe harbor with lower tariffs as well. So there'll be a lot of very painful conversations going on in boardrooms around the world, as well as among policymakers in Asia.
WSJ What’s News
A New Global Trade Order Takes Shape
I think there's a real hard calculus that policymakers, leaders are making in different capitals as to how much leverage they really have to fight back. And they know that this is a very difficult administration to deal with. And so I think certainly in Asia, what we've seen so far, China has said that they're going to hit back. It's interesting, though, that the first tariffs he put on about a
WSJ What’s News
A New Global Trade Order Takes Shape
The Chinese did respond, but they did in a very, very measured way, in a way that showed that they did not want to escalate this. They did not want this to spiral and spiral and get worse. The Southeast Asian countries, they're too small. All of them have come out today and said they're not going to retaliate. They're going to try to negotiate something and see what they can do.
WSJ What’s News
A New Global Trade Order Takes Shape
This is sort of realpolitik when it comes to trade and economics. It's, you know, how much can you really hit back? Is it going to be effective? Are you going to end up in a tit-for-tat situation that's going to be just damaging for your own country?