Asian countries are among the most vulnerable to President Trump’s economic grievances. But they are also best placed to make deals to minimize their exposure.

Another reason why Trump’s logic may not work is the US dollar exchange rate. The dollar has soared in recent months, especially when Trump has spoken about tariffs, rising more than 5% against the euro since the election. These moves weaken the competitiveness of American manufacturers on global markets.

Since taking office, Trump has announced 25% tariffs on all imports from Canada and Mexico. These tariffs will bring an economic burden to many consumers and could also particularly affect businesses in New Mexico. Thomas Fellows, an economic commentator who covers tariffs, explained the effects the tariffs could potentially have on the state.