FX.co ★ U.S. Enacts 40% Duties on Laos and Myanmar

President Donald Trump has introduced a revised global tariff plan that includes a 40% import duty on goods from Laos and Myanmar, marking it the second-highest rate in the world, next to Syria's 41%. The reasoning behind this decision remains unclear, especially given the relatively low trade volumes these Southeast Asian countries have with the U.S. Myanmar, which is still under sanctions from the U.S. after its 2021 coup, saw trade totaling USD 734 million with the United States in 2024. This tariff announcement follows shortly after Myanmar’s military government lifted emergency rule prior to elections, which have faced widespread criticism. On the other hand, U.S. exports to Laos were valued at USD 40.4 million last year, while imports stood at $803.3 million. The U.S. has voiced rising concerns over Laos' economic reliance on China and its increasing indebtedness due to Chinese-backed infrastructure projects.