And there are a lot more countries in that list, South Korea and Taiwan are going to really hurt for electronics. And I assume Vietnam, Cambodia, Bangladesh and other countries will hurt for other good that are made cheaply there.
Vietnam and Bangladesh would hurt American consumers (clothes). Cambodia not really.
Silver lining, Brazil and Colombia (edit: and the rest of Latin America) are kept at baseline, and Philippines is now the lowest tariff developing Asian economy.
We'll probably see a significant amount of capital returning to Philippines (who saw de-industrialization when South Korea signed their FTA with Vietnam).
> Are those in addition to existing tariffs?
Yes (Edit: not sure now, I'm hearing some say they include the 2017 tariff regime of flat 10% - smh shows how this was just a political ploy that answers for such a critical question are mixed)
(Edit 2: was right initially - thanks u/inverted_flag)
Depends on the country. India is negotiating a Bilateral Trade Agreement by mid-2025, Vietnam has sent a trade delegation to DC to negotiate as we speak, and tariffs on Colombia, Brazil, Philippines, and Turkiye are the lowest for middle income countries.
The harshest pain will be felt by Cambodia and Vietnam, because both are part of ASEAN like Philippines and share similar trade partners (Japan, SK), Bangladesh as they have an FTA and significant capital from India, and China as EU (looking at you Poland and Czechia), Turkiye, Japan, SK, and India are now cost competitive
You'll be seeing more "Made in Philippines", "Made in Colombia" "Made in Turkiye", "Made in Brazil", and "Made in India" shirts, auto parts, and assembled electronics now.
We might also see a return of Malaysia in the semiconductor industry, as they are now cheaper than Taiwan - great for whoever buys Intel Foundry Services (Penang reax only)
Stability is necessary for any big shifts to be worth taking.
You mean since 1971 when Intel opened their OSAT in Penang?
Malaysia was THE hub for electronics manufacturing until 20 years ago when China became cheaper.
In fact, it was the same businessmen in the Penang electronics industry who largely invested in China's electronics industry.
Also, semiconductors are exempted so my whole thread is moot about that. Electronics manufacturing though will return (and already started due to most companies China+1 strategy).
Supply chains have gotten way more resilient after Zero COVID in China and Vietnam caused a lot of supply chain craziness.
Hence I listed countries where manufacturing in those industries was significant until 10-15 years ago or where investment has largely moved beforehand.
https://xcancel.com/EamonJavers/status/1907540655871521264#m