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🚨 US imports from Southeast Asia are surging despite tariffs 📢

US imports from Southeast Asia rose +25% YoY in Q3 2025, to a record ~$40 billion on a 3-month rolling average basis, according to US Census Bureau 📢

Vietnam led the surge, with imports rising to ~$18 billion, an all-time high ⌛️

This is despite US tariffs which were initially set at to 49%, but later negotiated down to ~20% ⚡️

At the same time, Chinese exports to the US plunged -40% YoY in Q3 2025 ⚡️

This comes as the region has a massive cost advantage over US and European manufacturing, which ranges from 20% to 100%, even after tariffs 😱

Companies use Southeast Asian economies as alternative export bases to avoid China's 37% reciprocal tariff 👀

As a result, the amount of trade rerouting from China hit a record $23.7 billion in September

US trade flows are shifting sharply amid tariffs ⚡️📢

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