Southeast Asian countries are gaining market share despite higher US tariffs

BNP Paribas Team BNP Paribas

Asian economies, excluding China, have experienced minimal disruption to their global trade shares despite higher US tariffs. This resilience stems from their export composition, which remains concentrated in electronics, a sector largely spared by US tariff increases and buoyed by AI-driven demand. While the strategy of redirecting Chinese exports from the United States to Asia and other global markets has intensified, it has not been sufficient to fully compensate for China’s decline in U.S. market share.

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BNP Paribas Team

BNP Paribas

BNP Paribas Economic Research Department is a worldwide function, part of Corporate and Investment Banking, at the service of both the Bank and its customers.

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