Will Asia benefit from China's plunging US exports?

Parts of South East Asia, notably Vietnam, as well as India are well placed to immediately gain market share in response to penal US tariffs on Chinese imports. But uncertainty over the future tariff landscape will deter investment in additional capacity until more clarity emerges. India is one country that stands out as likely to benefit over the long term – it appears to have a better chance than many of agreeing a trade deal with the US soon, while its large domestic market offers a hedge against future tariffs.