Latest news with #Taco
Buzz Feed
14 hours ago
- Entertainment
- Buzz Feed
Make The Most Of Late Summer With These 41 Products
Reusable water balloons that'll magnetically seal and are made of eco-friendly material — sooooo easy to fill so you'll spend less time prepping and more time indulging in an intense water balloon battle alongside your kiddos. Or a hilarious poop-shaped version your kids won't be able to stop giggling about all summer long. All they'll need to do is fill it with water and let the magnetic seal do the rest. A waterproof version of the beloved Taco, Cat, Goat Cheese, Pizza game — it's a card game you can play with your family for guaranteed giggles and a way to catch your breath from traipsing around in the ocean. A ribbed button-up tank that very likely could have inspired LFO's hit "Summer Girls" lyric, "I like girls that wear Abercrombie & Fitch," because it has *such* similar vibes to one of their trendiest pieces right now (but for way cheaper!) A tennis skirt with built-in shorts *and* an absolutely essential hidden pocket (who doesn't LOVE a pocket?!) so even if you have zero plans to hit the court (ever) you can rock the cutest little 'fit all summer without fear of a breeze revealing your fave pink undies to the world. A Dreo oscillating tower fan with six (!!!) speeds you can aim directly at yourself to ensure your always-too-hot body is kept at the epitome of comfort at all times. Since it's bladeless, it won't make a racket while you're trying to get some shut-eye or listen to your fave murder mystery podcast. A set of DEET-free mosquito-repelling bracelets that'll use the magic of essential oils (think: geranium and lemongrass) to keep those nasty little buggers away from your too-sweet skin. No more swatting around wildly while trying to hold a conversation at a BBQ! Bonus: these fit both kids and adults. Hawaiian Tropic's SPF 30 Mineral Powder Sunscreen Brush to finally solve your dilemma over whether to spray/rub sunscreen onto your exposed scalp. Simply brush this translucent powder along your exposed part/hairline (after applying it all over your face, of course) to add some much-needed protection from the sun. Burt's Bees After Sun Soother lotion for when you get attacked by the sun's harsh rays despite your best efforts. This lotion is packed with aloe and coconut oil to help your skin feel cooler after you accidentally got a bit too crispy sitting by the pool. An inflatable couch that'll convince you to actually go out once in a while since you'll be able to take the comfort of your couch with ya — plop this bad boy in the middle of the beach, a park, or your own backyard for a cozy, relaxing, good time. You won't even need a pump to blow it up (just trap some air inside it) and it can hold up to 440 pounds, in case your entire squad wants to pile in and snug under the stars. A sand-removal bag filled with a talc-free, reef-friendly powder to help remove the pesky particles your kiddo will likely have all over them after rolling around in the local playground's An outdoor bug zapper to stop pesky bugs from eating you alive while you're trying to grill some burgers and hot diggity dogs. I'm sure your family will miss the "show" of you swatting around wildly mid-cooking, but they'll just have to entertain themselves with a card game or some music instead. (Sorrrray!) Neutrogena Hydro Boost Body Moisturizing Gel Cream made with a super light, non-greasy formula that'll feel like a refreshing drink of water for your skin. Just imagine how incredible it'll feel to apply after your post-beach shower... soooo good. Vanilla Velvet Touchland Power Essence Hydrating Body and Hair Fragrance you can easily stow away in your tote to freshen up your scent throughout the day (a must during these gross, sweaty, summer days). Highwaisted athletic shorts with built-in underwear that'll solve all of your what-should-I-wear-when-it's-100-degrees dilemmas this season — they're made from quick-dry fabric that'll help you get through your workouts and hot summer days. A bag of Liquid I.V. electrolyte drink mix in a festive firecracker Popsicle flavor that'll give you the perfect excuse to try it out if you've been putting off putting this bev to the test — it'll keep you hydrated while also helping you feel like you're indulging in a classic summertime treat. Reviewers can't help but rave about how delish it is! A bladeless personal neck fan that'll be your new answer to the question, "If you could bring one thing to a desert island, what would it be?" Toss this baby around your neck, stretch out on your bed, turn on The Real Housewives of Miami and enjoy the cool breeze you've been missing since your AC conked out on ya. Or a battery-operated stroller fan with a flexible handle you can wrap around your headboard or prop up on a coffee table to keep you at the perfect temperature — a must-have if you don't have a ton of space in your room for a tower fan! Oxo's compact Brew Rapid Brewer that'll have anyone wondering, "Where has this been all of my life?" You can use it to make cold brew or hot coffee without the need for a bulky, countertop machine. It doesn't even need to be plugged in or charged! Iced coffee at the beach? Why the heck not! Plus, a Java Sok to keep your drink chilled and prevent it from dripping all over — it's a must-have for anyone who is tired of drinking watered-down iced coffee because they got caught up in a chaotic morning and didn't have a spare moment to sip on it. A foldable dog pool so your pup can hang with you all the live long day — even when it's hotter than heck outdoors. This easy-to-store pool simply folds up and down (no need to inflate or deflate in the hot sun) and features a slip-resistant bottom that'll be perfect for preventing Fido from getting hurt if he starts to get a bit wet 'n' wild. And an orthopedic memory foam dog bed packed with a cooling gel that'll be a prime spot for your beloved pup to rest their tired-from-playing-all-day paws on. In addition to being comfy-cozy, it has a removable cover you can pop right into the washing machine after they track dirt all over it. An ice roller, which is said to help decrease under-eye puffiness, minimize fine lines, and shrink the look of pores, as well as relieve headaches and sore muscles. Most importantly, it'll become your I'm-way-too-hot lifeline — roll it along your neck for an instant cool-down. A cooling sheet set with thousands of positive reviews to give you the confidence to give 'em a shot despite only being 30 bucks! The set comes with pillow cases, a flat sheet, and a fitted sheet — everything you'd need to give your bed an upgrade. An at-home slushy-making cup for anyone who has been debating changing their name to "Sweaty Betty" this summer — cool yourself down with a daily slushy instead of trudging over to Social Security to fill out all that paperwork. A Ninja Swirl machine you won't regret purchasing for a single second when you've been feeling like an actual hot mess all day and desperately need to cool yourself down. This gadget can make soft serve ice cream (GASP!) as well as frozen yogurt, frozen custard, sorbet, milkshakes, and scooped ice cream — you'll basically feel like you've just bought the ability to transform your kitchen into an ice cream shop whenever the mood strikes. A rechargeable heated ice cream scoop so you won't have to wait for your Ben & Jerry's Chunky Monkey Ice Cream to soften before *literally* digging in. Not a moment to waste!!! A pair of anti-chafing shorts you'll slide on and want to shout, "WHERE HAVE YOU BEEN FOR ALL OF MY LIFE?!" because they are that life-changing. Throw 'em on under your dresses and skirts and kiss those sweaty thighs goodbye. Gold Bond Friction Defense Stick to help you fight the good fight against your thighs and summer chafing — is there anything more irritating (literally) then wearing your favorite dress only to be left with red, painful welts by the end of the day? I think not. A set of absorbent bra liners made from a seemingly magical blend of cotton and bamboo who will work together to keep your uncomfortable underboob sweat at bay. You'll also be happy to have it on hand when your only clean bra is the one with a pesky underwire — these can add some extra cushion! SweatBlock antiperspirant wipes that'll become your saving grace if you're running around so much, you're constantly dripping in sweat. These babies are prescription strength and designed to take on hyperhidrosis, nervous sweating, and hormonal sweating. These wipes did NOT come to play! A sweat-controlling whole body deodorant designed to be applied to ANYWHERE you typically get sweaty — and it's designed to keep you sweat-free for up to 72 hours in addition to being odor-free. Witchcraft? Perhaps, but, BRB, I need to dip my entire body in this substance for the next few months. An adjustable mister with a neck that's more flexible than your yoga instructor — rig it up above your fave place to catch some sun and let it ensure you're kept nice 'n' cool even when the sun is at its strongest. Apparently, it can keep any outdoor area up to 20 degrees cooler (sign me up). Round sunglasses for anyone who constantly loses their favorite pair and is sick and tired of spending far too much money on replacements — these are stylish and *so* cost-effective you can stock up for the summer! Or polarized heart-shaped sunglasses with rainbow mirrored lenses for the finishing touch on the flawless outfits you've put together to wear while boppin' between summer soirées. A sand-free blanket designed so that sand (or dirt) rolls right off it — because is there anything worse than finding debris in every crevice of your car after lounging at the beach all day? It can fit four adults on it and and folds up nice 'n' small, so you can carry it around with ease. A longline sports bra that'll function as a shirt or a bra — yes, she's a two-for-one special you'll daydream about throwing on the second you walk in the door after work. See ya later, business casual blazer! This beauty comes in 29 colors (SHEESH!) so you can truly load up and make it your post-workday uniform. Trendy boxer-style shorts you'll pat yourself on the back for choosing over the $98 ones from Reformation — I mean, should any pajama-like bottoms cost more than 10 bucks? Doubtful! These are cute to boot, affordable, and reviewers praise them for being light and lovely for hot summer days. A watermelon pool ball made of PVC material that'll hold up stronger than your willpower when your kiddo makes their eyes super big and very sweetly asks for an ice cream cone. Be warned: this isn't just any beach ball! It can be dribbled underwater (I KNOOOOW!), can be inflated in seconds with a water hose using an included needle-sized disaster, and weighs over 14 lbs when it's full! A splash pad you'll thank your lucky stars for when it's hotter than the sun itself outside and your kids are looking for a way to have fun and cool down. An inflatable lounge pool even adults can enjoy, so you can pretend you're on vacation in the Hamptons instead of sweating your butt off on your apartment's tiny patio.
The Sun
a day ago
- Business
- The Sun
Asean's greatest strength is unity
DESPITE US President Donald Trump's trademarked unpredictability – now popularly coined 'Taco' (Trump Always Chickens Out) – one thing has become increasingly certain: Southeast Asian countries now have major targets on their backs. With six Asean members receiving tariff letters in the first round from Washington, Trump has stepped up his public display of frustration towards the bloc's collectively export-oriented economies. With a 25% tariff slapped on Malaysia and other varying amounts across Southeast Asian states, Asean members must ramp up their collective efforts to revitalise regional diplomacy to help immunise the bloc against uncertainties and external shocks. Kuala Lumpur's recent hosting of the Asean-Gulf Cooperation Council (GCC) Summit and the inaugural Asean-GCC-China Summit illustrates the bloc's multivector diplomacy in action. Rather than adhering to traditional non-alignment to avoid entanglements, Asean has pioneered a strategy of multialignment, actively leveraging multiple partnerships for competitive advantage. Amid multitude of conflicts in the Middle East and ongoing tensions along the Thai-Cambodian border, global and regional instability only underscores the urgency with which Asean must advance its strategic multialignment approach. Strategic posture in the new multipolar order Asean's strategic multialignment differs fundamentally from the Cold War-era non-alignment. Instead of avoiding great power entanglements, Asean is cultivating diversified partnerships to maximise leverage and minimise dependency. The numbers tell the story. In 2024, Asean's trade with China grew by 15%, trade with the US increased by 12% and trade with the EU rose by 18%, proving that strategic diversification works. Bilateral agreements recently signed with China by Malaysia, Vietnam, Cambodia and Thailand are not pledges of trade allegiance but calculated moves to reap economic benefits while preserving political independence. Singapore exemplifies this approach, having signed US$8.2 billion (RM35 billion) worth of new agreements with China in 2024 while simultaneously deepening defence cooperation with the US and expanding trade partnerships with the EU. This is strategic multiplication of options, which is a necessity. Furthermore, initiatives like the Regional Comprehensive Economic Partnership, which has already reduced tariffs on 65% of traded goods within 18 months of implementation, institutionalise this balancing act, enabling the bloc to foster multilateral ties globally without compromising strategic autonomy. The result? Countries like Vietnam now source 23% of their foreign domestic investment from China, 19% from Japan, 15% from South Korea and 12% from the US – a diversification that would have been impossible under canonical alignment models. Regional economic growth Southeast Asia is emerging as a rare economic bright spot in an increasingly fragmented global landscape. The regional economy grew by 4.3% in 2024 and GDP is projected to continue expanding at around 4% in 2025, despite ongoing external headwinds. The Asean-GCC partnership alone is projected to generate US$50 billion in new trade flows by 2027 while the region's digital economy is set to reach US$1 trillion by 2030. The deepening integration between Asean, GCC and China – representing over 2.15 billion people and combined GDP nearing US$25 trillion – signals transformative potential for regional growth. In 2024 alone, this bloc attracted US$419 billion in FDI (30% of global inflows), highlighting its collective economic resilience. Over the past three years, Asean member states have strategically broadened their partnerships, signing comprehensive agreements with countries such as Japan, Australia, India and South Korea, generating over US$200 billion in new investment commitments. Beyond traditional manufacturing, Asean is positioning itself as the world's blue economy hub, with maritime industries contributing US$2.4 trillion annually to the region's GDP. Pragmatic diversification and 'third way' in diplomacy Within boardrooms in Asean, the conversation has shifted from 'How do we avoid taking sides?' to 'How do we benefit from all sides?' – a marked progress in the region's strategic decision-making. Malaysian Prime Minister Datuk Seri Anwar Ibrahim's recent visit to Russia resulted in US$10 billion worth of energy and technology agreements while maintaining Malaysia's existing US$80.2 billion trade relationship with the US. This is not diplomatic fence-sitting but strategic portfolio management. Diversification is the absolute key. Conclusion The shift from selective engagement to strategic multialignment shows that middle powers can shape the contours of the global order. Regional leaders should now focus on institutionalising these partnerships through formalising mechanisms of permanent secretariats, standardised trade protocols and integrated supply chain agreements. What we are witnessing is Asean nations prioritising pragmatic partnerships over ideological alignment, which anchors diplomacy in balance and not bias. Regionalism rooted in shared interests can be a proactive force in an increasingly fragmented world, a viable path to long-term stability in a multipolar era. Vijay Eswaran is the founder and executive chairman of the QI Group and has built businesses across Asean markets for over 25 years. He is a frequent commentator on Southeast Asian affairs. Comments: letters@
The Star
a day ago
- Business
- The Star
Why markets may soon call Trump's tariff bluff
THREE months after United States President Donald Trump announced plans to impose sweeping new tariffs on most countries, the United States economy appears surprisingly resilient. The stock market has rebounded from its initial slump, inflation remains under control and fears of a recession have receded, or at least they had before Trump announced a new 30% tariff on imports from Mexico and the European Union (EU), two of America's biggest trading partners. In the months since Trump's initial announcement, several countries have entered negotiations with the United States, offering concessions they had long resisted. Many observers view this as evidence that Trump's aggressive trade tactics are working and that economists may have overestimated the potential costs. Yet this interpretation overlooks a critical detail: many of the tariffs that Trump announced over the past few months have not been fully implemented. In fact, the administration has repeatedly backed down from its initial threats, a pattern so consistent that it has earned the acronym Taco: 'Trump always chickens out.' Despite its outspoken distrust of experts, particularly economists, scientists and health professionals, the Trump administration has consistently been attuned to financial markets. Since early April, announcements of new or increased duties have repeatedly triggered stock-market declines. In response, the administration has often softened its stance by issuing exemptions, delaying some tariffs, and renegotiating others, leading to quick rebounds in equity prices. Announcements of bilateral deals have been met with investor optimism, while renewed threats of escalation have triggered sell-offs. Until recently, this feedback loop has helped rein in the administration's trade policies. But the latest escalation, including a 50% tariff on copper, higher-than-expected tariffs on goods from Vietnam and stalled negotiations with the EU, has barely moved the markets, with equity prices remaining elevated. The most plausible explanation is that investors no longer believe the administration will follow through on its threats. Instead, they see them as part of a now-familiar cycle: bold proclamations followed by delays or partial implementation. Complacency, however, introduces a new kind of risk. If markets become desensitised to Trump's tariff threats, they may no longer serve as an effective check on potentially harmful policies. Freed from that constraint, Trump could be emboldened to move forward with measures his administration has so far been reluctant to implement. It is a classic 'boy who cried wolf' dynamic. In the early stages, Trump's aggressive rhetoric helped bring negotiating partners to the table without triggering the worst-case economic scenarios, largely because the market backlash acted as a deterrent. But as investors increasingly dismiss his tariff threats, the likelihood that he will follow through on them grows. And if that happens, the long-feared consequences could finally materialise: higher consumer prices, reduced trade, disrupted supply chains and slower long-term growth. This dynamic extends beyond financial markets. Many countries that were once firmly committed to multilateralism are now pursuing bilateral deals with the United States in the hope of avoiding punitive tariffs. Some see these developments as vindication of the administration's current approach, evidence that the United States can use its economic power to reshape a system seen as unfavourable to American interests. But the shift toward bilateralism is less an endorsement of Trump's approach than a pragmatic response. Confronting the United States directly would be costly. Finding themselves on increasingly hostile and unpredictable terrain, many governments are buying time and hedging their bets. Such hedging can move in only one direction: away from the United States and toward alternative trading partners, particularly China. For most countries, that is not the preferred outcome. Vietnam, for example, has openly expressed its desire to strengthen ties with the United States rather than deepen its reliance on China. But as US trade policy grows more erratic, governments are increasingly being forced to choose between the two powers. The irony is that Trump's efforts to bully foreign governments will ultimately diminish America's global influence. Economic leverage, after all, depends on engagement. The United States can pressure trading partners today precisely because it remains deeply integrated into the global economy. Consequently, US policymakers now find themselves in a double bind. In the short term, financial markets have mitigated the impact of Trump's aggressive rhetoric by discouraging implementation of the policies that follow from it. But if investors keep treating his threats as empty noise, they will ignore the wolf when it appears. Moreover, given the United States' central role in the global trading system, its retreat from multilateralism will drive other countries to seek alternatives and diversify their trade relationships. As they become less dependent on the United States market, American bargaining power will inevitably decline. While the Trump administration's strategy may appear to be working, the absence of immediate costs is not evidence of its long-term viability. Instead, it is a sign that the warnings were heard and for a time heeded. If the administration ignores those warnings, economists' dire predictions may come true. — The Jakarta Post/ANN Pinelopi Koujianou Goldberg is a professor of economics at Yale University and a former World Bank Group chief economist and editor-in-chief of the American Economic Review. The views expressed here are the writer's own.
Business Times
7 days ago
- Business
- Business Times
Trump's tariffs end Asia's era of fence-sitting
Tariff jam – seriously or literally? Are US President Donald Trump's tariff deadlines immutable, immovable and set in stone? If they are missed, does global mutually assured destruction ensue? Or rather, are deadlines simply levers of negotiation designed to exert pressure and expedite a deal with the US' trading partners? While politicians debate, the market has made up its mind. With major equity and credit markets at – or close to – all-time highs, tariff deadlines are being taken seriously (not literally), with some – of the Taco (Trump always chickens out) persuasion – believing deadlines will be extended ad infinitum, and others viewing that mutually beneficial solutions will be agreed upon sooner rather than later. At Lombard Odier, we take a more nuanced view. While markets are looking through tariff-related risks, we worry about complacency and the apparent disconnect between sky-high investor sentiment and macroeconomic risk. While we do not foresee an economic recession in the US, we do anticipate an economic slowdown. Hence, we have moved to modestly de-risk portfolios, particularly as we approach the illiquid summer months and the next Aug 1 tariff deadline for the US' major trading partners. Don't poke the bear What has struck me most about the tariff saga – China apart – is the apparent willingness of the US' major trading partners to engage in negotiations with Washington and resist the temptation to retaliate. While actual details around the US tariffs are typically incomplete, lacking or completely absent, there seems to be a reasonably constructive mindset among the parties involved to engage and forge a workable outcome. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Take the European Union for example. Last week, Trump announced 30 per cent tariffs on 560 billion euros (S$836.4 billion) of annual imports from the trading bloc starting Aug 1, 2025. This was an aggressive move. The EU has quietly drawn up a list of countermeasures targeting 72 billion euros of US goods ranging from Boeing aircraft to cars, but continues to insist on 'mutually beneficial' negotiations that possibly include the acceptance of a 10 per cent asymmetric tariff only affecting the region. Mexican trade negotiators – hit with the same 30 per cent tariff rate – have been similarly non-confrontational from Mexico's side. Why is this? It is entirely possible – even likely – that the US' trading partners do not fully buy into Trump's 'trade distortion' narrative; yet such is their need for continued, unfettered access to the (eye-wateringly) valuable US$20 trillion US consumer market that concessions will likely be made, and reciprocity around tariffs on US imports into their countries enacted. Geopolitical considerations – and no doubt the need to strengthen alliances with the US – also play a part in the equation and foster a willingness to negotiate. Our surplus, your problem But not everyone feels that way. Which brings us to China. Right now, trade is essential to the economy, which grew by a better-than-expected 5.2 per cent year on year (yoy) in the second quarter of 2025, fuelled by exports and export subsidies that underpinned the manufacturing sector. China's exports rose a robust 5.8 per cent yoy in June, beating analyst expectations (albeit reflecting front-loading ahead of the August tariff deadline). Simultaneously, China reported a surging US$114.7 billion trade surplus in June, up from US$103 billion in May. While Beijing will be quietly pleased that its export engine is still firing on all cylinders – particularly as private consumption remains in the doldrums – not everyone will share their pleasure. The US, for example, will see the trade surplus as further evidence of the economic distortion that characterises their bilateral relations, while regional neighbours will fear being swept up in superpower rivalries and end up as collateral damage. Particularly, they are concerned that the deals that Indonesia and Vietnam are finalising with the US sets a worrisome precedent, and establishes the benchmark (and expectations) for their own deals with the US. Note these deals appear to include lower tariffs for 'home-grown' exports to the US, and substantially higher tariffs on so-called 'transhipped' exports (rerouted Chinese goods skirting the US rules-of-origin checks). Should a similar template be imposed on them – think India, Cambodia, Thailand and Malaysia, et cetera – the implications for domestic growth and relations with China would be, to put it mildly, complex. Off the fence Not without justification, China believes its economic hinterland (and opportunity) is being boxed in by Washington, whose trade deals with local neighbours potentially limit and constrain China's export growth, by restricting its ability to tranship goods via them to the US. And for as long as consumption in China remains weak, export growth – for them – remains a national priority. Not surprisingly, Vietnam's trade provoked a sharp response from Beijing, which warned the South-east Asian nation (and other countries) that it would 'resolutely take countermeasures to safeguard its legitimate rights and interests'. For decades, without having to choose sides, Asian nations have enjoyed the economic benefits of trade with China, and the geopolitical security and protection afforded by a close strategic alliance with the US. Those days appear over now. Indeed, as if to underline the point, last week the US 'upped the ante' by threatening another 10 per cent tariff on countries aligning themselves with the (anti-US) policies of the Brics countries (which include Brazil, Russia, India, China and South Africa). The ongoing trade deals with the US – including the controversial transhipment clause – suggest the days of fence-sitting are over. As part of this superpower rivalry, Asia is being forced to take sides, and the fallout – from Japan to Indonesia – is uncertain, hard to predict and meaningfully consequential. The writer is chief investment officer, Asia, at Lombard Odier
Business Times
7 days ago
- Business
- Business Times
Tariff jam
SERIOUSLY, or literally? Are US President Donald Trump's tariff deadlines immutable, immovable and set in stone? If they are missed, does global mutually assured destruction ensue? Or rather, are deadlines simply levers of negotiation designed to exert pressure and expedite a deal with the US' trading partners? While politicians debate, the market has made up its mind. With major equity and credit markets at – or close to – all-time highs, tariff deadlines are being taken seriously (not literally), with some – of the Taco (Trump always chickens out) persuasion – believing deadlines will be extended ad infinitum, and others viewing that mutually beneficial solutions will be agreed upon sooner rather than later. At Lombard Odier, we take a more nuanced view. While markets are looking through tariff-related risks, we worry about complacency and the apparent disconnect between sky-high investor sentiment and macroeconomic risk. While we do not foresee an economic recession in the US, we do anticipate an economic slowdown. Hence, we have moved to modestly de-risk portfolios, particularly as we approach the illiquid summer months and the next Aug 1 tariff deadline for the US' major trading partners. Don't poke the bear What has struck me most about the tariff saga – China apart – is the apparent willingness of the US' major trading partners to engage in negotiations with Washington and resist the temptation to retaliate. While actual details around the US tariffs are typically incomplete, lacking or completely absent, there seems to be a reasonably constructive mindset among the parties involved to engage and forge a workable outcome. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Take the European Union for example. Last week, Trump announced 30 per cent tariffs on 560 billion euros (S$836.4 billion) of annual imports from the trading bloc starting Aug 1, 2025. This was an aggressive move. The EU has quietly drawn up a list of countermeasures targeting 72 billion euros of US goods ranging from Boeing aircraft to cars, but continues to insist on 'mutually beneficial' negotiations that possibly include the acceptance of a 10 per cent asymmetric tariff only affecting the region. Mexican trade negotiators – hit with the same 30 per cent tariff rate – have been similarly non-confrontational from Mexico's side. Why is this? It is entirely possible – even likely – that the US' trading partners do not fully buy into Trump's 'trade distortion' narrative; yet such is their need for continued, unfettered access to the (eye-wateringly) valuable US$20 trillion US consumer market that concessions will likely be made, and reciprocity around tariffs on US imports into their countries enacted. Geopolitical considerations – and no doubt the need to strengthen alliances with the US – also play a part in the equation and foster a willingness to negotiate. Our surplus, your problem But not everyone feels that way. Which brings us to China. Right now, trade is essential to the economy, which grew by a better-than-expected 5.2 per cent year on year (yoy) in the second quarter of 2025, fuelled by exports and export subsidies that underpinned the manufacturing sector. China's exports also rose a robust 5.8 per cent yoy in June, beating analyst expectations (albeit reflecting front-loading ahead of the August tariff deadline). Simultaneously, China reported a surging US$114.7 billion trade surplus in June, up from US$103 billion in May. While Beijing will be quietly pleased that its export engine is still firing on all cylinders – particularly as private consumption remains in the doldrums – not everyone will share their pleasure. The US, for example, will see the trade surplus as further evidence of the economic distortion that characterises their bilateral relations, while regional neighbours will fear being swept up in superpower rivalries and end up as collateral damage. Particularly, they are concerned that the deals that Indonesia and Vietnam are finalising with the US sets a worrisome precedent, and establishes the benchmark (and expectations) for their own deals with the US. Note these deals appear to include lower tariffs for 'home-grown' exports to the US, and substantially higher tariffs on so-called 'transhipped' exports (rerouted Chinese goods skirting the US rules-of-origin checks). Should a similar template be imposed on them – think India, Cambodia, Thailand and Malaysia, et cetera – the implications for domestic growth and relations with China would be, to put it mildly, complex. Off the fence Not without justification, China believes its economic hinterland (and opportunity) is being boxed in by Washington, whose trade deals with local neighbours potentially limit and constrain China's export growth by restricting its ability to tranship goods via them to the US. And for as long as consumption in China remains weak, export growth – for them – remains a national priority. Not surprisingly, Vietnam's trade provoked a sharp response from Beijing, which warned it (and other countries) that it would 'resolutely take countermeasures to safeguard its legitimate rights and interests'. For decades, without having to choose sides, Asian nations have enjoyed the economic benefits of trade with China, and the geopolitical security and protection afforded by a close strategic alliance with the US. Those days appear over now. Indeed, as if to underline the point, last week the US 'upped the ante' by threatening another 10 per cent tariff on countries aligning themselves with the (anti-US) policies of the Brics countries (which include Brazil, Russia, India, China and South Africa). The ongoing trade deals with the US – including the controversial transhipment clause – suggest the days of fence-sitting are over. As part of this superpower rivalry, Asia is being forced to take sides, and the fallout – from Japan to Indonesia – is uncertain, hard to predict and meaningfully consequential. The writer is chief investment officer, Asia, at Lombard Odier
