DBS Expects to Gain from Increased Intra-Regional Trade Amidst US Tariffs
EVEN though the Trump administration may cause global volatility, DBS expects to gain from more intra-regional trade as a result of US tariffs, said deputy chief executive and CEO designate Tan Su Shan.
Focus on Trade Opportunities between Asean and North Asia and Europe
The lender will also focus on trade opportunities between Asean and North Asia and Europe, given that there are more multinational corporations from Europe and Asia that are looking to do more within Asia as a result of the tariffs, she said.
Resilience in the Face of Tariffs
“While there will be reactions around some of the tariffs, at least for our markets in Asia, especially in China and South-east Asia, the countries here are looking to be more resilient internally and to look at more intra-regional trade,” Tan said at a briefing on Monday (Feb 10) for the lender’s fourth-quarter 2024 results.
Recent Developments in Tariffs
Conclusion
In conclusion, DBS is optimistic about the potential benefits of increased intra-regional trade in the face of US tariffs. As a result, the lender will focus on trade opportunities between Asean and North Asia and Europe, and will look to capitalize on the resilience of Asian markets, particularly in China and South-east Asia.
FAQs
Q: What is DBS’ stance on the impact of US tariffs on global trade?
A: DBS expects to gain from more intra-regional trade as a result of US tariffs.
Q: Which regions will DBS focus on for trade opportunities?
A: DBS will focus on trade opportunities between Asean and North Asia and Europe.
Q: How do Asian markets plan to respond to US tariffs?
A: Asian markets, particularly in China and South-east Asia, are looking to be more resilient internally and to look at more intra-regional trade.
Q: What is the current state of tariffs imposed by the US?
A: The US has imposed tariffs on steel and aluminium imports, and has also ordered tariffs against China, Mexico, and Canada, although the latter two were paused after they agreed to step up on border and crime enforcement.
