When the Trump administration rolled out sweeping tariffs on “Liberation Day” in April 2025, the reaction across Southeast Asia was swift: markets dipped, supply chains scrambled and governments went into damage control. Governments had a choice: retaliate or negotiate. They negotiated. Southeast Asian countries including Indonesia, Malaysia and Cambodia have signed Agreements on Reciprocal Trade with the United States. Those deals lowered tariffs from their peak levels and opened market access...