U.S. President Donald Trump's upcoming tariff hikes, set to begin August 1, have triggered uncertainty across South and Southeast Asian markets. Companies face rising costs, disrupted supply chains, and pressure to find alternative trade routes. Nations like Vietnam, Malaysia, and Japan are reassessing U.S. relations, while poorer countries like Cambodia face harsh duties. Experts warn the shift from globalization to regionalization is accelerating, with China emerging as a stabilizing trade partner amid the U.S.’s unpredictable policies.