Asia Takes Big Tariffs Hit: Vietnam, Thailand Most Affected, While Exemptions Ease Impact For India, Singapore
Source: SeekingAlpha
2025-04-03 05:25:00 ET
Summary
- President Trump’s punitive tariffs hit Asia, with largest levies on Vietnam and smaller textile exporters.
- The largest economies in the region, such as India, Japan, and South Korea, fared better.
- Overall, downside risks to growth and inflation could accelerate monetary policy easing and add to depreciation pressures on currencies.
APAC hit by tariffs in the range of 10-49%
US President Trump announced a blanket tariff of 10% on US imports, though most APAC countries are being hit with an additional 10% or more on top of that rate. The largest tariffs seem targeted at countries exporting lower-value-added items like footwear, furniture, garments, and textiles. Vietnam, which after China has the largest trade deficit with the US, faces a 46% tariff. Cambodia got hit with a 49% tax, while Sri Lanka got 44% and Bangladesh got 37%....
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Asia Takes Big Tariffs Hit: Vietnam, Thailand Most Affected, While Exemptions Ease Impact For India, Singapore
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