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Asia bracing for US import tariffs after Trump victory

Author
Newstalk ZB,
Publish Date
Fri, 8 Nov 2024, 6:49pm
Photo / Getty
Photo / Getty

Asia bracing for US import tariffs after Trump victory

Author
Newstalk ZB,
Publish Date
Fri, 8 Nov 2024, 6:49pm

Asia is bracing for tariffs from Donald Trump’s election victory.

The President-elect is proposing adding up to 20 percent on import tariffs, but is also vowing to impose 60 percent on Chinese imports.

But Asia business correspondent Peter Lewis told Heather du Plessis-Allan Asia has been preparing for this for a couple of years now.

He says some economists reckon this could knock 2.5 percentage points off of China’s GDP, and Japan and South Korea could also get dragged into the crosshairs.

Lewis says there's also a lot of questions around security - as Trump calls for countries to pay more for Taiwan's defence.

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