Trump tariff threat looms large on several Asian countries — not just China — says Goldman Sachs
Publishing timestamp: 2024-11-11 09:00:44
Summary
Goldman Sachs warns that Asian countries, including Korea, Taiwan, Vietnam, India, and Japan, may face higher tariffs from the U.S. due to trade deficits. Despite efforts to shift imports towards the U.S., Trump's proposed tariffs could impact open economies in the region. The U.S. trade deficit with China has narrowed, but supply chains are still heavily reliant on Chinese components. Goldman expects pressure for supply chain relocation from China to Southeast Asia, India, or Mexico.
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Keywords: trade, asia economy, world economy, economic events, taiwan, breaking news: politics, united states, international trade, goldman sachs group inc, politics, donald trump, china, foreign policy, business news,