Washington, July 9 -- With US President Donald Trump imposing exorbitant tariffs on ASEAN nations, the tariffs could potentially backfire for Washington, as South East Asian countries, particularly Vietnam, Malayasia, Indonesia, and Philippines are some of US' biggest trading partners, while the collective ASEAN with the US is more than $500 billion, making the bloc Washington's fourth largest trading partner.
Among ASEAN states, Indonesia was subjected to a 32% tariff, Thailand and Cambodia faced a 36% tariff, while Malaysia will pay the tariff of 25%. The highest were Myanmar and Laos, with a 40% tariff rate. The US' exorbitant trade tariffs could do more harm than good, as these countries are also vital in manufacturing of American g...