So 54% on China, and this might not be the end of it as countries will retaliate and Trump might increase them even further.
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.