These include wealthy allies like Japan and South Korea, which face 26% tariffs, as well as developing countries like Vietnam that are bracing for a 46% levy – Trump called the fast-growing economy one of the “worst offenders”.

Also on that unenviable list are Cambodia (49%), Thailand (36%) and China, which will face 54% tariffs in total.

Others like Singapore, New Zealand and Australia have already had a so-called baseline 10% tariff go into effect.

“Asia is bearing the brunt of the US tariff hike. While there could be some room for negotiation, a new regime of higher tariffs is here to stay,” Qian Wang, Asia Pacific chief economist at investment firm Vanguard.

Asian economies are also particularly sensitive to fears that a global trade…