Asia braces for historic test of export model from Trump's tariff threats

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Asia braces for historic test of export model from Trump's tariff threats - Business Standard

Quick Summary:

As a result, Asian central banks are likely to cut more aggressively than they did during the 2018-2019 trade war — but even that won’t fully offset the hit to growth, according to Morgan Stanley economists led by Chetan Ahya.

While Bessent didn’t specify nations, there are exactly that many countries that make up more than three-quarters of the US trade deficit and nine are in Asia, according to a report from Bloomberg Economics.

Trump and his officials have long targeted China and already slapped a 20 per cent levy on imports from the world’s factory floor in a resumption of the trade war unleashed during his first presidency.