0241 GMT - Around 2.2% of China's GDP is directly hit by U.S. tariffs, Nomura economists write in a note. The U.S. directly accounted for 14.7% of China's total goods exports in 2024 and the ratio rises to 15.2%, including re-exports via Hong Kong, and would be 20.6% after including rerouting, they say. With around 16.3% of exports exempted from reciprocal tariffs, around 2.2% of China's GDP is directly hit by the tariffs and the country might lose around 1.1% of GDP in the near term, they say. The actual loss would be larger, as the shock ripples through to other sectors, especially the services sectors that facilitate merchandise exports, they add. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
April 28, 2025 22:41 ET (02:41 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.