0921 GMT - Trump's tariffs have turned global trade upside down, HSBC Research economists say in a note. Asia PMI data for production and employment in April have slowed, in early signs of the tariffs' impact on regional economies, they write. New export orders plunged in Asia with the exception of India and Singapore, but orders that have been brought forward to take advantage of the 90-day pause in reciprocal tariffs would have to be fulfilled soon, which could mean that the data may hold up over the next month or two, HSBC says. India may gain further price competitiveness against China if it negotiates tariffs down, and may benefit from changing supply chains, HSBC says. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 05:21 ET (09:21 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.