Acting President Choi Sang-mok pledged to develop a new trade strategy and provide support for local exporting companies as the nation's interim chief, citing concerns over US President-elect Donald Trump's policies. He made this commitment during a New Year's event held by the Korea Chamber of Commerce and Industry in Seoul, where he met with major conglomerate leaders including Samsung Electronics Executive Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Euisun Chung, and LG Chairman Koo Kwang-mo. Choi vowed to create a "systematical counterstrategy" against the Trump administration's uncertain trade policies, while also prioritizing the protection of businesses from potential risks. He emphasized the need for the government to focus on fostering future industries such as AI and bio, and called for "courageous action" from both the government and businesses to navigate the challenges ahead.
https://koreajoongangdaily.joins.com/news/2025-01-03/business/industry/Acting-president-pledges-Trumpproof-trade-strategy-at-biz-lobby-dinner/2214973India is currently facing concerns about China's growing economic influence in the region as several countries, including Bangladesh and Sri Lanka, are negotiating free trade agreements (FTAs) with China. These countries have also expressed interest in joining the China-led Regional Comprehensive Economic Partnership (RCEP), which could further increase Chinese imports into their markets. India has been working on over a hundred connectivity projects in the region, but is concerned that Chinese goods will flood South Asian markets and undermine local economies. Despite being the top exporter to these countries, India's exports have seen slower growth compared to China's significant increase in exports to the same nations. India fears that if it pauses negotiations on FTAs with its neighbours, such as Bangladesh, cheap Chinese commodities could enter India via its connectivity projects and FTAs with neighbouring countries. To counter this, India should expedite negotiations, reduce protectionist measures, and open its markets to smaller countries while enhancing connectivity and trade with its neighbours.
https://www.ndtv.com/opinion/india-shouldnt-ignore-growing-chinese-trade-in-neighbourhood-7392121#pfrom=home-ndtv_mainnavigationIndia's trade minister expressed enthusiasm for strengthening economic ties with the US under the new administration, citing a significant increase in bilateral trade which exceeded $118 billion in 2023/24, resulting in a surplus of $32 billion. The minister noted that India has maintained strong relations with successive US administrations, including those led by Barack Obama, Donald Trump and Joe Biden. Industry estimates suggest that trade could grow by an additional $50 billion within two to three years, driven by the potential for stronger economic cooperation.
https://www.brecorder.com/news/40340939/india-aims-to-strengthen-economic-ties-with-us-engage-with-trump-administrationIndia's trade minister expressed enthusiasm for strengthening economic ties with the new US administration, citing a strong foundation established under Prime Minister Narendra Modi's leadership in bolstering bilateral relations with successive US administrations, including those led by Barack Obama, Donald Trump and Joe Biden. The two countries' bilateral trade exceeded $118 billion in 2023/24, with India registering a surplus of $32 billion. Industry estimates suggest that trade could grow to an additional $50 billion within the next two to three years, driven by a potential broader trade and investment pact between the two nations.
https://www.geo.tv/latest/583223-india-aims-to-strengthen-economic-ties-with-us-engage-with-trump-administrationThe Brazilian government is working to strengthen cooperation among countries in the Global South through a program focused on inclusive and sustainable governance. A key challenge for Brazil is ensuring that new member countries are actively participating in the initiative. Additionally, the country aims to develop a payment system using local currencies instead of the US dollar in trade between nations.
https://en.mercopress.com/2025/01/02/brazil-takes-over-brics-rotating-presidency#commentsChina's economic growth is expected to face challenges due to weak consumer confidence, rising youth unemployment and geopolitical tensions, according to Jing Qian, co-founder of the Asia Society Policy Institute's Center for China Analysis. The country will also be closely watching US President Donald Trump's actions after his return to the White House on January 20, as a potential increase in tariffs could impact trade relations between the two nations. Additionally, China's relationship with Taiwan and its efforts to consolidate power at home under President Xi Jinping are expected to remain key issues in the new year, with implications for global markets.
https://channelnewsasia.com/asia/china-2025-challenges-trump-trade-taiwan-4834571China may be able to circumvent Donald Trump's tariffs by shifting production of goods such as bicycles to facilities in countries like Cambodia, India, Malaysia, Taiwan and Vietnam. This allows them to export the products directly to the US without paying a 25% tariff. The practice is seen as inflationary and does not benefit American companies, but rather reduces bilateral trade between the two nations. Chinese companies are also using tactics such as stripping out costs like intellectual property payments from their imports to lower the recorded value of trade.
https://www.rawstory.com/trump-china-tariffs/The Commerce Ministry in China has taken action against US companies, citing their actions as a threat to its sovereignty and territorial integrity. The move is part of an ongoing escalation in economic tensions between the two nations, which have led to the Biden administration imposing restrictions on 140 Chinese companies supplying dual-use items.
https://www.upi.com/Top_News/World-News/2025/01/02/punitive-measures-American-companies-Taiwan/2001735833009/The International Monetary Fund predicts that China's economy will grow by 4.8 percent this year and 4.5 percent next year. Recent stimulus measures appear to be taking effect, as indicated by a third consecutive month of expansion in manufacturing activity, with the Purchasing Managers' Index (PMI) reaching 50.1 in December. The non-manufacturing PMI also rose to 52.2 in December, driven by growth in the services and construction sectors. According to Gabriel Ng of Capital Economics, increased policy support has provided a near-term boost to growth, with export orders rising to a four-month high in December, likely due to US importers stockpiling goods ahead of potential tariffs under President-elect Donald Trump's administration.