Kuala Lampur, April 12 -- On April 2 - so-called "Liberation Day" - United States (US) President Donald Trump unveiled the imposition of a 10 per cent baseline tariff on all imports to the US as well as higher "reciprocal" duties on some of the country's biggest trading partners.

The base 10 per cent tariffs went into effect on April 5, while the higher reciprocal rates were to be effective on April 9 before the President announced a 90-day pause for almost all nations, except China.

Trump said he was raising tariffs on China to 125 per cent because of a "lack of respect."

But who's lacking respect?

Trump's sweeping tariffs were announced on the back of a declaration of national emergency to address what the President described as har...