Asia Business Correspondent
Getty ImagesWhen he began his trade war, President Donald Trump said his goal was to bring American jobs and manufacturing back to the US, reduce trade deficits and create a more level playing field for American companies competing globally.
But after months of negotiations and many countries’ refusal to meet America’s demands, his strategy has taken a more punitive turn.
US companies have been here before.
Under Trump’s first administration, when he imposed tariffs on Chinese exports, they scrambled to limit their exposure to Beijing, with many shifting production to Vietnam, Thailand and India to avoid higher levies.
But his battery of new tariffs does not spare any of these economies. Stocks saw a sell-off, with benchmark indexes in Taiwan and South Korea in the red on Friday.
Both countries are…
