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US imposes high tariffs on Southeast Asian nations impacting trade relations

On April 2, the US imposed tariffs of 10% to 49% on several Southeast Asian nations, with Vietnam, Cambodia, and Laos facing the highest rates at 46%, 49%, and 48%, respectively. This move, justified by the White House as a response to unfair trade practices, could severely impact export-driven economies, particularly Vietnam, where US trade constitutes a significant portion of exports and GDP. Critics argue the tariffs are based on trade surplus data rather than actual rates, potentially undermining trust in US partnerships in the region amid growing Chinese influence.

enhancing india myanmar trade through rupee kyat settlement mechanism

India and Myanmar are advancing discussions on a local currency trade settlement mechanism using the Rupee and Kyat to enhance bilateral trade. Key challenges include addressing non-tariff barriers, improving trade financing, and overcoming infrastructural deficits, while the success of this initiative hinges on achieving balanced trade and formalizing existing practices. The mechanism aims to lower transaction costs and settlement times, fostering deeper economic ties in line with India's "Act East" policy.
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