Barclays Forecasts Chips and Pharma Tariffs as Upcoming US Trade Battleground

Published: Mar 28, 2025 14:11

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Barclays: Chips and Pharmaceutical Tariffs to Become the Next Battlefield

Barclays economists stated in a report that the focus will now shift to the next specific product tariffs that US President Trump considers crucial for the US, particularly semiconductors and pharmaceuticals. This could have significant economic impacts on emerging Asian economies. Semiconductors are a more critical pressure point in the region. Although a specific implementation date for chip tariffs has not been announced, Barclays expects Malaysia to be the most vulnerable in this area. Barclays also noted that potential tariffs on the pharmaceutical industry could significantly affect Singapore. Pharmaceuticals account for a large portion of US imports from India, but overall, India's exposure in this regard is relatively limited.

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