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14 Feb 2025

Trump's Trade War: Who Are the Winners and Losers in Asia?

In a report released on Wednesday, strategists at ING Group analyzed the potential impact of the new 25% tariffs imposed by U.S. President Trump on steel and aluminum imports on the trade landscape in Asia. According to ING, Vietnam appears to be the most at risk, with its exports of steel and aluminum to the U.S. accounting for 0.3% of GDP in 2024. Vietnam's role as a major processor of semi-processed Chinese steel and its re-exportation increases the risks

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