In its latest report, titled ‘Asia-Pacific Economies Likely To Be Hit By US Trade Tariffs’, S&P pointed out that countries like Vietnam, Taiwan, Thailand, and South Korea have stronger trade ties with the US.
Donald Trump has already slapped an extra 10% tariff on Chinese imports and raised duties on steel and aluminum to 25%.
New Delhi,UPDATED: Feb 24, 2025 16:46 IST
In Short
- S&P warns Trump’s tariffs may hurt India, South Korea, Thailand
- Asia-Pacific economies face uncertainty over US tariff scrutiny
- India’s domestic demand may cushion impact
Ratings agency S&P Global Ratings has warned that US President Donald Trump’s higher tariffs could pose a big threat to some Asia-Pacific economies. S&P said the countries that are at most risk of trade retaliation are India, South Korea, and Thailand
In its latest report, titled ‘Asia-Pacific Economies Likely To Be Hit By US Trade Tariffs’, S&P pointed out that countries like Vietnam, Taiwan, Thailand, and South Korea have stronger trade ties with the US.