The wealthy will shield Asian banks from Donald Trump's tariffs; here's how

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The wealthy will shield Asian banks from Donald Trump's tariffs; here's how - Business Standard

Quick Summary:

Out of the top 15 trade partners with whom the US has a trade deficit, eight are from Asia.“The entire region is in the firing line,” according to Priyanka Kishore, an economist at Singapore-based consulting firm Asia Decoded Pte.

Trump’s proposed 10 per cent to 20 per cent tariff on all foreign-made goods — 60 per cent or higher on products from China — will be more than a bucketful of sand in the wheels of commerce.Anxiety is running high.

If inflation is high and asset prices volatile, the global wealthy will want to put their cash to work in unconventional assets, especially ones they think will do well during Trump’s second term.