Trump’s tariffs a ‘lose-lose’ for emerging Asia

Of the 15 countries that America runs the largest bilateral goods trade deficit with, nine are in Asia. — Reuters

US President Donald Trump loves tariffs and big numbers, so it’s no surprise that the first targets in his trade war have been economies that boast the biggest trade surpluses with the United States in dollar terms.

But if America’s bilateral deficits are measured as a share of trading partners’ economic output, or those that are widening rapidly, the countries with most to worry about are emerging economies in East Asia.