Emerging Asia_ Critical import theory_ Accounting for global supply chains

We re-estimate economic exposures to critical import tariffs to account for global supply chains. While Korea is the Emerging Asian economy most vulnerable to auto tariffs, others could catch up in terms of overall exposure if tariffs on semiconductors and pharmaceuticals materialise. US President Donald Trump has provided an update on his plans to impose import tariffs on autos from all trade partners: "We are going to do that on around April 2."1 If so, this would be the second of the product-specific tar ...