By Chayut Setboonsarng, Martin Petty and Huey Mun Leong BANGKOK/KUALA LUMPUR (Reuters) -Southeast Asian countries breathed a sigh of relief on Friday after the U.S. announced tariffs on their exports that were far lower than threatened and levelled the playing field with a rate of about 19% across the region's biggest economies.

When he began his trade war, President Donald Trump said his goal was to bring American jobs and manufacturing back to the US, reduce trade deficits and create a more level playing field for American companies competing globally.

Manufacturers across Southeast Asia turned the least optimistic about future growth since the depths of the pandemic amid Trump’s long tariff rollout, even as activity improved last month.