SINGAPORE -- Exports from major Southeast Asian countries to the U.S. are surging as manufacturers scramble to find alternative production bases not subject to Chinese tariffs, with continued growth in these exports likely.
Malaysia's exports to the U.S. increased 11.7% on the year to 7.8 billion ringgit ($1.88 billion) in May, according to Malaysian government figures out Thursday. This more than offset a 2.2% drop in exports to China, contributing to a 2.5% gain in exports overall.
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