0148 GMT - Asia is generally harder hit by the U.S. tariffs announced overnight than other regions, MUFG Bank's Michael Wan says in a research report. Among the Asian markets that MUFG Bank covers, the biggest increase in reciprocal tariffs ranged from 26% on India to 46% on Vietnam, the senior currency analyst says. Also, the Philippines received a 17% increase and Singapore got a 10% increase, which MUFG Bank had thought were the two countries least likely to be targeted in Asia, weren't spared, he says. Meanwhile, Canada and Mexico appear to be exempt from the tariffs for now, at least until perhaps a review at a subsequent date on USCMA-compliant trade, he adds. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 21:48 ET (01:48 GMT)
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