The 'Trumpcession' is starting to hurt allies more than China

Japan and South Korea's economies shrank in Q1, even before tariffs kicked in

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2025-05-17 trump

U.S. President Donald Trump has long talked up what he sees as the wonders of tariffs -- not just in winning negotiations and raising revenue, but also in leveling playing fields.  © Reuters

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

During the Trump 1.0 years from 2017 to 2021, the U.S. president's tariffs targeted Xi Jinping's China, but traditional U.S. allies such as Japan and South Korea found themselves at the center of collateral damage. Now under Trump 2.0, deja vu is striking all over again.

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