Southeast Asians are bracing for higher living costs as new US tariffs on goods from the region take effect. A survey by Milieu Insight reveals widespread concern and shifting spending habits across six nations: the Philippines, Singapore, Malaysia, Indonesia, Thailand, and Vietnam.
The survey highlights that 90% of respondents across the region expect the tariffs to increase the prices of everyday goods. Vietnam faces the highest tariff at 46%, followed by Thailand at 36%, Indonesia at 32%, Malaysia at 24%, the Philippines at 17%, and Singapore at 10%.
Among the surveyed countries, Vietnam shows the greatest concern, with 78% of respondents worried about the economic impact. Similarly, 93% of Thais believe the tariffs will negatively affect their country.
In the Philippines, 51% of respondents expect businesses to pass on the extra costs to consumers, while 61% feel uncertain about the government’s ability to handle the situation effectively.
These sentiments are mirrored in Singapore, where 59% predict price hikes will be transferred to consumers. In contrast, Thais (49%) and Vietnamese (48%) remain optimistic, believing businesses will offset costs with discounts.
The tariffs are also driving changes in consumer behavior. Across the region, 87% of those who usually buy international brands say they are now more likely to support locally made products. Electronics, automobiles, and household appliances are among the top categories expected to see price increases.
Southeast Asians are calling on their governments to act, with many advocating for policies like price controls, subsidies, and expanded domestic industries.
Featured image: Pixabay
