More tariff madness again at the weekend.
On the 20th February 2026 the US supreme court ruled that Trump’s ‘Liberation Day’ tariffs were illegal but there was no ruling on refunds.
On the same day, President Trump imposed a 10% tariff globally using section 232 of the Trade Expansion Act.
On 21st February 2026 he said he would increase the tariff to 15%.
How about the tariffs that have already been paid, will businesses be refunded? Will those importers pass on the refunds to their customers? Will the importers now reduce their prices to consumers or will they take profits now that consumers are used to the new price levels??
This situation is crazy. What can Asia manufacturers do to strategise? It can take years to move manufacturing country of origin. In the case of China Country of Origin, you either move the factory to a different country or make sure that your supply chain sources from third party countries.
Right now, with President Trump in control, mid and long term strategy is impossible.
There is an alternative though.
Maybe take the long view and examine the regional market.
According to Bain & Co., Asia Pacific will overtake North America to become the largest consumer market by 2035. Private consumption in the region is projected to reach $36 trillion within ten years.
Make where you buy and sell where you make is the future.
Source: Bain & Co. Asia-Pacific Consumer Products Report 2025