Name: Why U.S. Allies in Asia Are Caught Between War, Trade and Trump
Uploaded: 2026-04-07T09:18:00Z
Duration: 5 min 47 s
Description: WSJ Editor-in-Chief Emma Tucker sits down with Japan Bureau Chief Jason Douglas in Tokyo to unpack the biggest challenges facing key U.S. allies in Asia, from the Middle East conflict to shifting U.S. policy under President Trump.

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WSJ Editor-in-Chief Emma Tucker sits down with Japan Bureau Chief Jason Douglas in Tokyo to unpack the biggest challenges facing key U.S. allies in Asia, from the Middle East conflict to shifting U.S. policy under President Trump. Photo: Matthew Allard

https://m.wsj.net/video/20260407/a864b25a-2ba4-49f8-a227-b89fe7985f5a/1/hls/manifest-hd-wifi.m3u8

WSJ Editor-in-Chief Emma Tucker sits down with Japan Bureau Chief Jason Douglas in Tokyo to unpack the biggest challenges facing key U.S. allies in Asia, from the Middle East conflict to shifting U.S. policy under President Trump.

Why U.S. Allies in Asia Are Caught Between War, Trade and Trump

I've arrived in Tokyo pretty much a month into the conflict in the Middle East, and which shows no signs of letting up anytime soon. How do you assess that what's going on over there is impacting the economies in this part of the world?

Asia gets something like 80% of its oil from through the Strait of Hormuz, from the Persian Gulf. Some of these economies have big reserves, so Japan, Korea, China have lots of reserves. They can really see things out for a pretty long time. But even there, we're starting to see, you know, pressure on prices particular for things like gasoline and so on. The bigger effects, I think are really felt in, you know, the middle income and the developing countries. You know, Philippines has declared a state of emergency now. We're seeing shortages of all sorts of fuel in places like India and in Pakistan.

Is there a fear here that what's going on in the Middle East is leaving, leaving this region vulnerable?

So the US and Israel are using a hell of a lot of interceptors to shoot on missiles. We've seen some weapons and indeed some troops that are based out here in Asia move to the Middle East. I don't think governments in Asia necessarily worry that there's kind of an immediate threat, but I think what it does really underline for them is how stretched the US is right?

It's kind of a big deal for Japan, isn't it? You know, traditionally, a sort of pacifist nation hasn't spent very much on defense traditionally. But I guess the rather, like in Europe that calculation is changing.

China outspend Japan, something like six to one, right? 300 billion.

No kidding.

And Japan is responding to this, you know, they're slowly but steadily building up their defenses, particularly on the Southwestern islands. But certainly for Japan, the world just does seem much more dangerous. China and Japan, as our readers and viewers know, are in the middle of something of a diplomatic spat. I dislike using that word because a lot of it is really China's economic coercion response to a single thing that was said by the Japanese Prime Minister. But nonetheless, that was around Prime Minister Takaichi's remark that Japan would probably have to get involved in a conflict in Taiwan, just because it's so close and because their, you know, their treaty ally of the United States would probably get involved as well. I think, you know, for Japan, the Taiwan issue is a very important one. They do not want the Chinese border to move, you know, however many hundreds of miles it is to Taipei. They do not want China to be in control of the Taiwan strait 'cause that's economically very important to Japan. It's where they get their energy imports. It's where all the container ships with Japanese exports go through. And China has already shown that it will resort to economic coercion when it's not happy.

Prime Minister Takaichi just got back from her visit to the US, which seemed to go very well. They obviously like each other. Do you have any sense of what she offered the US in return for this continued sort of friendship?

We know that there was a trade agreement and in exchange for tariffs of 15% or so, Japan agreed to invest an awful lot of money in the United States, $550 billion. We are starting to see those investments come through, which will certainly keep President Trump happy. Those so far have mostly been in things like energy, which Japan hopes will ultimately benefit its own economy. I think that more recently, of course, we had President Trump really putting pressure on allies to help in some way with the Strait of Hormuz and reopening it. He singled out Asia specifically as I recall, because, you know, 'cause as we were talking about the Strait is so important to Asian economies such as Japan and even China. But in meeting in Washington, DC at their summit, it seems that Prime Minister Takaichi was very clear about what Japan could and couldn't do.

One thing, you don't want to signal too much. You know, when we go in, we went in very hard and we didn't tell anybody about it because we wanted surprise. Who knows better about surprise than Japan okay? Why didn't you tell me about Pearl Harbor? Okay, right?

What about the Pearl Harbor moment? How did that go down over here?

People understand that President Trump isn't always as diplomatic as one might have expected from other presidents. That indeed, as part of his popular appeal, I guess, I don't think it was a huge issue. I think they're kind of, you know, used to these things. They're much more concerned about what the realities of the relationship, you know, the brass tax about it on trade and on defense and so on.

Well, not quite a year and a half into Trump's second term, he's done an awful lot on the international stage. Now with, he may switch his focus to the midterms. The midterms right now aren't looking likely to deliver particularly rosy results for him and the Republican party. So perhaps where people are beginning to think about life beyond Trump.

I think the attitude of countries here is that we need to find a way to keep the US on sight. No one is expecting everything to go back to what it was before Trump,

No.

Jason: Not just a national defense. If you think of something like tariffs, right?

Yeah.

I mean, once a country puts on tariffs, it does not lower them. I think governments in Asia, in Seoul and in Tokyo and elsewhere, I think they're all, they're pretty clear-eyed about this. And I don't think they expect to go back to the world that existed before. Not in any way really.