Southeast Asian nations are facing economic challenges due to high US tariffs under President Donald Trump, ranging from 32% to 49%.

Vietnam, where exports to the US make up nearly 30% of GDP, is hit with a 46% tariff. This has led to a 6.7% drop in its stock index and a record low for the dong.

Thailand, facing a 37% tariff, is seeking negotiations as the baht falls to a one-month low. ING warns that tariffs could cut 3% of Thailand’s GDP.

Cambodia faces the highest tariffs at 49%, hurting its garment and footwear industries.

Malaysia, with a 24% tariff, plans to negotiate but avoids retaliation.

These tariffs disrupt supply chains and threaten export-driven economies. ING estimates 5.5% of Vietnam’s GDP is at risk.

So far, no affected country has announced retaliatory measures, focusing instead on talks with the US.