The ratings agency said the new tariffs would hinder the “China 1” strategy, and that supply chain diversification away from China is unlikely to accelerate at this stage.
KUALA LUMPUR: The sweeping United States tariffs will be credit negative for Asia-Pacific (Apac), but lower-tariff countries such as Malaysia, India and the Philippines may gain market share through trade triangulation to serve the US market, according to Moody’s Ratings.
In its latest report, the international ratings agency said the new tariffs would hinder the “China+1” strategy, and that supply chain diversification away from China is unlikely to accelerate at this stage.
