Trump tariffs pinch Southeast Asian firms, from tuna to electronics

Exporters consider producing in other countries or withdrawing from US market

Major canned tuna manufacturer Thai Union gets about 40% of its sales from North America, particularly the U.S. (Photo by Kenya Akama)

Nikkei staff writers

May 29, 2025 02:20 JST

TOKYO -- U.S. President Donald Trump's sweeping tariffs are weighing on earnings of Southeast Asian companies, with canned tuna manufacturer Thai Union downgrading its forecast and an electronics manufacturer warning of a potential impact after July.

Thai Union, which owns U.S.-based Chicken of the Sea, has revised its sales growth for the year ending December from the previous 3%-4% to 1%-3%, assuming a blanket 10% tariff announced in early April by Trump.