AMNA NAWAZ: President Donald Trump is ratcheting up tough trade negotiations by threatening to place much higher tariffs on several countries starting on August 1.

Most of the 14 countries targeted are in Asia, including Japan and South Korea, some of the U.S.' largest trading partners and staunchest allies.

William Brangham joins us now with more -- William.

WILLIAM BRANGHAM: That's right, Amna.

In addition to those, some of the other nations targeted are Myanmar and Laos at 40 percent, Cambodia and Thailand at 36 percent.

Japan and South Korea will get 25 percent tariffs.

For more on the implications this will have on the relationship between America and its Asian allies, we are joined by Wendy Cutler.

She's the vice president at the Asia Society Policy Institute, and previously was acting deputy U.S. trade representative.

Wendy Cutler, thank you so much for being here.

I wonder, how serious are these nations taking these tariff threats?

The president argues that he is making them to trigger dealmaking.

Do you believe that that's what's going to actually happen here?

WENDY CUTLER, Vice President, Asia Society Policy Institute: Look, I think these countries are taking these letters that were sent yesterday very seriously.

For most Asian countries, the U.S. is their largest export market.

So high tariffs would really have serious implications for them.

So I expect to see an intense -- negotiations to intensify until the next deadline set by the president of August 1.

WILLIAM BRANGHAM: I mean, the president argues that he's imposing these tariffs to counter what he argues are unfair tariffs put by those other countries upon the United States.

Is that a fair argument that he's making?

WENDY CUTLER: Well, look, countries could open their markets more.

And, frankly, I think some success is already being made to get countries to lower their tariffs and get rid of their non-tariff measures.

But take a country like Korea, where we have a free trade agreement.

We have zero tariffs with Korea now.

So, in some ways, a 25 percent tariff not only doesn't make sense, but goes against our obligations under that agreement with Korea.

WILLIAM BRANGHAM: Right.

Japan and South Korea are America's, I believe, sixth and seventh largest trading partners.

And, as we mentioned, they are key allies in this region, especially when it comes to countering China's influence.

Is this ratcheting trade war going to change that dynamic, change that relationship in any meaningful way?

WENDY CUTLER: I think so.

I think there are long-term implications for the continuous pressure we're putting on these countries in the trade area.

Both Korea and Japan have been strong allies and on the economic front have been partners on our economic security agenda, including trying to create and maintain resilient supply chains and bolstering cooperation on shipbuilding and energy and semiconductors.

So, in some ways, we're missing the larger picture.

And I worry that these countries are going to look at us differently and treat us differently going forward, even if they're able to reach a deal on August 1.

This has not been a great experience for them.

WILLIAM BRANGHAM: One of the fears that people have raised is that, if we do antagonize our allies, that they might move closer in ways large and small to China.

Is that a concern that you share?

WENDY CUTLER: It's a concern, but I'm not overly concerned, in that many countries in Asia have their own problems with China and very much want to maintain a relationship with the United States in order to reduce their dependence on China.

So I think there will be some fallout and we will see more cooperation between some of these Asian countries and China, but I don't see them moving into the China camp because of these tariff wars.

WILLIAM BRANGHAM: I mean, the president argues that he's doing this and that no previous president has been able to because of his business acumen.

And I wonder, does this tariffs-on/tariffs-off policy seem like -- or can you glean a coherent economic policy that the president is trying to articulate here?

WENDY CUTLER: Look, it's difficult, and it just seems day by day there seems to be a different objective for these tariffs, either bringing manufacturing home or raising revenues or getting rid of unfair trade practices.

So there is a lot of confusion.

And the deadlines keep -- they keep moving.

And so there's so much uncertainty and chaos.

And this, I think, is impacting our economy and the global economy, where forecasts now for global economic growth are being revised downward as we speak.

WILLIAM BRANGHAM: All right, that is Wendy Cutler of the Asia Society Policy Institute.

Thank you so much for your insights.

Really appreciate it.

WENDY CUTLER: Thank you.