Under President Trump’s “America First” policy, high tariffs have accelerated a global trade realignment. East Asian economies—particularly China, Japan, and South Korea—are deepening regional linkages through revived trilateral FTA talks and integration under RCEP, aiming to reduce dependence on U.S. markets and strengthen regional self-reliance.
Trump’s Trade Policies:
On March 23, 2018, President Trump imposed 25% tariffs[1] on steel and 10% on aluminum under Section 232 of the Trade Expansion Act of 1962, [2] initiating the U.S.-China trade war. Chinese President Xi Jinping cautioned that “tariff wars, trade wars, and technology wars go against economic laws, and there will be no winners”.[3] In April 2025, Trump announced a 10% tariff on nearly all imports except Canada and Mexico under USMCA, while raising the aluminum tariff to 25%. Citing the International Emergency Economic Powers Act (IEEPA), he declared a “National Emergency” over trade imbalances.[4] According to WTO data, U.S. imports from China in 2024 totaled $438.9 billion, while exports were $143.5 billion—resulting in a $295.4 billion deficit.[5] In response, the Biden administration (May–Sept 2024) imposed new tariffs on Chinese EVs, solar cells, battery parts, and critical minerals.[6]
