EWJV - We're Lowering Our Asia Growth Forecasts Because Of Tariffs

2025-05-09 06:30:00 ET

Summary

• We are revising our GDP growth forecasts for Asia downward across the board.
• The direct impact of President Trump's tariffs on exports, along with the indirect effects through China, will slow growth for most Asian economies.
• Economies heavily reliant on external demand are expected to see a significant decline in export growth.

By Deepali Bhargava & Min Joo Kang

Revising our GDP growth forecasts

We are revising our GDP growth forecasts for Asia downward across the board. The direct impact of tariffs on exports, coupled with the indirect effects via China, will reduce growth for most economies in the region. Economies heavily reliant on external demand are expected to see a significant decline in export growth. Manufacturing activity indicators have already shown signs of weakening in April, necessitating a reassessment of our GDP growth projections....

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