Business
Asian markets accept that free trade with the US is a thing of the past, says UOBAM
Asian markets have continued to demonstrate resilience, even in the face of US tariffs. In a Special Report published today, UOB Asset Management (UOBAM) assesses that Asian markets could even rally if negotiations ahead of the new 1 August deadline result in improved rates relative to those announced in April. The implication here is that investors no longer expect a return to previous trading arrangements but are nevertheless sanguine about the region's ability to withstand moderate tariffs.
About this update from United Overseas Bank Limited
[{"type":"text","content":"SINGAPORE, July 23, 2025 /PRNewswire/ -- Asian markets have continued to demonstrate resilience, even in the face of US tariffs. In a Special Report published today, UOB Asset Management (UOBAM) assesses that Asian markets could even rally if negotiations ahead of the new 1 August deadline result in improved rates relative to those announced in April. The implication here is that investors no longer expect a return to previous trading arrangements but are nevertheless sanguine about the region's ability to withstand moderate tariffs.","length":548,"tagName":"p"},{"type":"image","alt":"UOB Asset Management logo (PRNewsfoto/UOB Asset Management)","displaySize":"","headline":null,"caption":"UOB Asset Management logo (PRNewsfoto/UOB Asset Management)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":64,"url":"https://media.zenfs.com/en/prnewswire.com/7c91fbc91ee85ed4ba9a677ce07cbb80"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/l8i_ztnQuG7.MfdkQYnGEA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTExMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/7c91fbc91ee85ed4ba9a677ce07cbb80","width":400,"height":64}},"href":"https://mma.prnewswire.com/media/2648091/FC_UOB_AM_RGB_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Colin Ng, UOBAM's Head of Asian Equities, explains, "The majority of Asian economies are likely to recover relatively quickly from the direct impact of US tariffs. A slowdown in exports to the US can be offset by trading with other countries, and in particular, with their Asian neighbours"","length":304,"tagName":"p"},{"type":"text","content":""This is because, on the one hand, more and more Asian companies are building globally recognisable brands, and on the other, the Asian consumer base is now large and affluent enough to absorb these products. That is why ASEAN has taken over from the US as China's biggest trading partner."","length":304,"tagName":"p"},{"type":"text","content":"The UOBAM Special Report, entitled "Will US tariffs detail Asia's growth?" looks at the short- and longer-term implications of US tariffs on seven markets in Asia, including the big exporters such as Korea, Taiwan region and Singapore as well as those more domestically-focused such as Malaysia and Indonesia.","length":323,"tagName...