Most analysts expect Trump to eventually impose tariffs of at least 10 percent. Henrietta Treyz, director of economic policy research at consulting firm Veda Partners, said Malaysia, Thailand and the Philippines could be subject to higher tariffs of 15 to 20 percent due to transshipment concerns as the Vietnam deal is completed. The uncertainty most worrying for businesses and investors is the industry-oriented tariffs imposed on national security grounds under Section 232 of the Trade Expansion Act. Aluminum, steel and automobiles are already affected by industry tariffs. Investors have been waiting for a decision by the U.S. Commerce Department to impose tariffs on pharmaceuticals, semiconductors, lumber and other industries. (Jin Ten)