Reciprocal tariffs: India, Thailand most impacted in Asia, says Nomura

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Reciprocal tariffs: India, Thailand most impacted in Asia, says Nomura - Business Standard

Quick Summary:

Singapore, which runs a trade deficit with the US and has low trade and non-trade barriers, appears least at risk from a reciprocal tax,” Nomura said.

Vietnam with an exposure of 25.1 per cent of its gross domestic product (GDP) in 2024 to the US will be the worst hit Asian region, followed by Taiwan at 14 per cent, Thailand (10.4 per cent), Malaysia (10.3 per cent) and Hong Kong (9.5 per cent).

Broadening the criteria to include non-tariff barriers, Nomura said, increases the likelihood of the imposition of a reciprocal tax across a broader swath of emerging and developed Asian economies.