At few points in the post-war era has the international trading system been so challenged, as mid-2026.
Moreover, Asia Pacific has arguably benefitted from trade more than anywhere else, with decades that saw China, Japan, South Korea and Taiwan become powerhouses in everything from steel to high-tech, from automobiles to corporate finance — all of which also effectively poured money into regional institutional property markets.
But entering onto this prosperous scene in 2026 has been the US Trump administration, speaking loudly and brandishing a big stick, aggressively implementing higher tariffs against a wide phalanx of Asian countries.
Despite some US court-forced modifications, Trump has established 15 percent across-the-board import levies on most nations and, under the rubric of national security, has placed selectively higher tariffs on a wide range of other goods, such as vehicles, metals and drugs.
Not only Washington but China has played the
