New US tariff hikes cast shadow on Asia

Experts warn of damage to economies as duties slapped on 4 nations in region

The latest round of tariffs announced by the United States has again cast a shadow over the Asia-Pacific's economic outlook as the trade-reliant region has had to grapple with export duties of as much as 30 percent.

US President Donald Trump sent letters to the leaders of eight countries on Wednesday, notifying them that tariffs ranging from 20 percent to 50 percent will be charged on goods imported from their countries starting Aug 1.

Four of the eight countries are in Asia, with 30 percent tariffs set to be imposed on Iraq and Sri Lanka, 25 percent on Brunei, and 20 percent on the Philippines.