This live blog is closing now, but we will return if there is any breaking news to bring you.
If you want to read more about Donald Trump’s reported phone call with Vladimir Putin, you can see our full report here.
Some companies have been moving factories from China to Southeast Asia, anticipating Donald Trump would slap high tariffs on Beijing if he regained the White House, a move set to accelerate with his election win, industrial park developers in the region say.
Trump, who won a resounding victory on Tuesday, has threatened 60% tariffs on goods coming into the US from China, much higher than the levies of 7.5% to 25% he imposed in his first term, a major risk for the world’s second-largest economy.
Southeast Asia - which has auto and electronics factories from Thailand to Vietnam and Malaysia - will likely benefit at China’s expense, said two executives, two business groups, a lawyer and an analyst in the region, speaking to Reuters.
Developers of industrial parks are adding Chinese speakers and preparing land tracts for factories, a sign of how Trump, who takes office in January, could reshuffle global supply chains.
As Trump geared up his campaign to retake the presidency earlier this year, calls from Chinese customers flooded WHA Group, one of Thailand’s largest industrial estate developers, said CEO Jareeporn Jarukornsakul.
“There was [already] a relocation to Southeast Asia, but this round is going to be more intense,” she said, referring to Trump‘s 2017-2021 first term.
