Vietnam remains the region’s largest apparel exporter to the U.S., sending roughly $18.6 billion worth of goods in 2024, according to the U.S. Census Bureau. Cambodia follows with $7.8 billion, then Indonesia at $6.4 billion, Thailand at $2.7 billion, and Malaysia at $1.6 billion.

Live market coverage co-anchored from Hong Kong and New York. Overnight on Wall Street is daytime in Asia. Markets never sleep, and neither does Bloomberg.

Japan, South Korea, Malaysia and Kazakhstan will face 25% import duties starting Aug. 1, while goods from Laos and Myanmar will face a 40% tariff.