ANZ: India and Thailand are the main targets for equivalent tariffs.

Jin10 data reported on April 2nd that analysts from ANZ have stated that the effective tariff rate difference between India and Thailand and the United States is the largest, making them the primary targets for reciprocal tariffs. Analysts noted that financial conditions across the region remain supportive, partly due to the fact that Central Banks in Asian countries have adopted accommodative monetary policy so far. “However, we believe that the room for interest rate cuts for Central Banks in Asia is limited. Due to fiscal policy constraints, we think Asian currencies need to bear a greater burden of tariff impacts.”