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President Trump's Tariff Policies Cause Market Turmoil

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On April 4, 2025, President Donald Trump’s aggressive tariff policies sent shockwaves through global financial markets, triggering widespread turmoil and stoking fears of an economic downturn. The administration’s decision to impose sweeping tariffs—ranging from a 10% baseline on all imports to targeted rates as high as 50% on key trading partners like China, Canada, and Mexico—marked a dramatic escalation in Trump’s long-standing pledge to reshape U.S. trade. While the president touts these measures as a means to boost domestic manufacturing and reduce the $1.2 trillion goods trade deficit, the immediate fallout has been a steep market sell-off, with the S&P 500 plunging nearly 5% in a single day, its worst performance since June 2020. The tariffs, unveiled in a White House address, aim to retaliate against perceived trade imbalances and practices like currency manipulation. Trump argues they will force companies to relocate production to the U.S., creating jobs and strengthenin...
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Southeast Asia’s EV battery corridor – map of new gigafactories

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Southeast Asia is rapidly emerging as a pivotal hub in the global electric vehicle (EV) battery supply chain, with several countries investing heavily in gigafactories to capitalize on the region's abundant resources and strategic location.



🇮🇩 Indonesia: Leading the Charge

Karawang, West Java: Home to Southeast Asia's first EV battery cell plant, a joint venture between Hyundai Motor Group and LG Energy Solution. This facility boasts an annual capacity of 10 GWh, sufficient to power approximately 150,000 EVs. 

Central Sulawesi: The Morowali Industrial Estate has inaugurated an EV battery factory powered by renewable energy, further solidifying Indonesia's position in the EV ecosystem. 

Kendal, Central Java: China's BTR New Material Group and Singapore's Stellar Investment have launched an anode material plant, aiming to produce 160,000 metric tons annually upon completion of its second phase. 



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🇹🇭 Thailand: Southeast Asia's Automotive Hub

Rayong Province: Chinese automaker BYD has opened its first EV factory in Southeast Asia, marking a significant step in Thailand's ambition to become a regional EV manufacturing center. 



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🇲🇾 Malaysia: Scaling Up Production

Shah Alam, Selangor: Malaysia is set to expand its battery manufacturing capacity from 6 GWh to 37.4 GWh by 2030, with companies like Samsung SDI leading the charge. 



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🇻🇳 Vietnam: Emerging Player

Hai Phong: Vietnamese automaker VinFast is investing in battery production facilities to support its EV manufacturing ambitions, aiming to become a significant player in the global EV market.



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📊 Regional Outlook

According to the International Energy Agency, Southeast Asia had 16 GWh of EV battery cell manufacturing capacity at the end of 2023, with plans to add 39 GWh by 2030. Malaysia, Vietnam, and Indonesia are leading this expansion, collectively accounting for around 1% of the global committed battery manufacturing capacity by 2030. 


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This burgeoning "EV battery corridor" underscores Southeast Asia's strategic importance in the global transition to electric mobility, leveraging its resource wealth and manufacturing capabilities to meet growing demand.


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