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10 April 2025

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Trump’s calculation is hit them hard and fast, and trading partners will come to the negotiation table. The ultimate objectives are to secure fairer trading terms and stimulate inward investment—and the strategy appears to be gaining traction. Countries facing the highest reciprocal tariff rates, with large surpluses vis-à -vis the US and high gross exports to GDP ratios will buckle first. Most vulnerable are – Vietnam, Taiwan, Mexico, Thailand and the EU and least – Russia, Brazil, Philippines. Indonesia, India and Malaysia.
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