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Business Recorder
23-04-2025
- Business
- Business Recorder
Exposure to US tariffs through GVCs in Asia and the Pacific
On 2 April 2025, the United States introduced a two-tier tariff regime comprising a 10 per cent universal baseline tariff and elevated country-specific tariffs of up to 50 per cent, targeting 57 countries—including many in the Asia-Pacific—with limited exemptions. Although the country-specific tariffs were suspended on 9 April for all but China, policy uncertainty remains. Subsequent signals have been mixed: while product exemptions were expanded to include certain electronics, the US also launched new Section 232 investigations into imports of semiconductors and pharmaceuticals. These developments suggest the potential for further unilateral trade actions and underscore the persistent uncertainty in the global trade environment. These shifting trade dynamics carry important implications for the Asia-Pacific region, where deep integration into global value chains (GVCs)—characterized by high reliance on imported inputs—intensifies both direct and indirect exposure to evolving US tariff measures. Direct exposure occurs when a country's exports to the US are directly subject to tariffs. Countries most at risk from direct exposure were identified in our earlier blog. However, the actual burden can be heavier than the announced tariff rate. This is because tariffs are applied to the full shipment value, even when much of it comes from imported inputs. As a result, the cost falls disproportionately on the exporter's own, smaller share of value-added. For example, only $51.5 of Cambodia's $100 textile shipment to the US is domestically produced. A 10 per cent tariff on the full value translates into an effective 23 per cent tax on Cambodia's actual contribution. In fact, analysis using ESCAP's RIVA (Regional Integration and Value Chain Analyzer) shows that while most Asia-Pacific economies are subject to the same 10 per cent baseline tariff, many face an effective tariff burden exceeding 15 per cent (figure 1). Indirect, or pass-through, exposure arises when a country exports intermediate goods or services that are later embedded in another country's exports to a tariff-imposing market. For example, in 2022, Bangladesh exported approximately USD 8.2 billion in textiles and textile products to the United States, with about one-third of that value derived from upstream trade partners. Notably, US firms themselves, along with firms in China, India, Pakistan, and Indonesia, are key contributors to Bangladesh's textile exports—making them indirectly exposed to US tariffs on those exports (figure 2). The impact of US tariffs is expected to vary widely across the Asia-Pacific region. Economies with high direct export exposure—such as Vietnam, Cambodia, and Thailand—could face significant trade-related contractions, with direct exposure accounting for 3 to 11 per cent of GDP if the April-2 tariffs were reinstated (table 1). Indirect exposure through GVCs may also dampen growth in upstream economies supplying raw materials, parts, and components. For example, Brunei Darussalam, Mongolia, Lao PDR, Malaysia, and Singapore could see indirect exposure equivalent to approximately 1 per cent of GDP. In contrast, economies with larger domestic markets or more diversified export structures—particularly those with strong services sectors—are better positioned to absorb the trade shock. Targeted support and policy coordination are key For both policymakers and industry leaders, identifying the source of vulnerabilities is essential for crafting targeted and forward-looking responses. These strategies should not only aim to mitigate current risks but also strengthen long-term economic adaptability. Evidence-based analysis is essential for guiding targeted support. Sectoral data highlights how Thailand, for example, is indirectly impacted through its upstream supply chain linkages with Vietnam. The following Thai manufacturing sectors are identified as the most vulnerable: Leather and Textiles, Food and Beverages, other Light Manufacturing, Electrical Equipment (figure 3). This insight suggests that coordination between Thailand and Vietnam focusing on these industries could mitigate shared risks and enhance resilience. Beyond bilateral efforts, regional coordination with supply chain partners is essential to address short- to medium-term challenges. This is particularly important because: Relocating supply chains requires long-term planning guided by infrastructure, labor, innovation capacity and regulatory stability—not just short-term tariff shifts. Strategic uncertainty remains high. No country is fully shielded from tariff exposure. In the current unpredictable global trade environment, firms will remain cautious about investing or reconfiguring supply chains. Governments across the Asia-Pacific must be prepared to deliver tailored support to firms and workers as GVCs continue to evolve. Informed domestic and international policies require sector-specific assessments. In this context, ESCAP's TINA tariff simulator offers a valuable tool for preliminary assessment of Asia-Pacific tariff exposure at the HS 6-digit level. In addition to the recommendations in our earlier blog, policy priorities may include: Targeted support for affected SMEs and export-oriented firms Reskilling and adjustment support for impacted workers Incentives to diversify exports and reduce market concentration Bilateral and regional cooperation to maintain supply chain continuity. (Witada Anukoonwattaka is Economic Affairs Officer, ESCAP, Yann Duval is Chief of Trade Policy and Facilitation Section, ESCAP and Rupa Chanda is Director of Trade, Investment and Innovation Division, ESCAP) Copyright Business Recorder, 2025
Yahoo
05-02-2025
- General
- Yahoo
Iowa refugee and immigrant organization launches magazine to magnify community voices
An Iowa nonprofit coalition headquartered in Des Moines that empowers refugees, immigrants and organizations they lead to improve health care, economic opportunities and education has launched a magazine to empower its own voice and the voices of the people it serves. Henny Ohr, the executive director of Refugee and Immigrant Voices in Action, or RIVA, said it's especially important that the nonprofit do that in the present moment. Part of the reason is name recognition, which Ohr said RIVA still does not have enough of after officially changing its name in 2023 from Ethnic Minorities of Burma Advocacy and Resource Center, or EMBARC. The organization's work has expanded since 2012, when it started helping Burmese refugees as EMBARC. The expansion since is reflected in the ethnic heritage of staff sitting around a table with Ohr at RIVA's office, and in the stories of community leaders and other staff of RIVA and partner organizations across the state featured in the first print edition of its magazine: Afghan, Beninese, Bhutanese, Burmese, Haitian, Latinx, Liberian, Mexican, Micronesian, Saudi, Sudanese, Zambian, and Zimbabwean. But Ohr said the annual print edition of the magazine and its ongoing digitally published stories also will be useful in cutting through some of the rhetoric being used against immigrants and refugees, to instead highlight shared humanity and opportunities for collaboration. "Those we serve are also potential leaders. You get help now so you can help others later. There's this misconception that (immigrants and refugees are) maybe just here to take. We're here to give," Ohr said. RIVA launched the magazine in December. The immigrant and refugee communities RIVA serves want to show to state agencies, federal representatives, nonprofit leaders, schools, the public at large and themselves that they are resources, full of ideas and talent but not necessarily with opportunities to share them, Ohr said. "We're your neighbors. We care about Iowa. We care about our families. We want the same things," she added. Success of the magazine will be measured in the numbers of people who start to support RIVA, want to volunteer or otherwise develop a relationship with the organization, Ohr said. "If more people are willing to listen and have conversations with you, that means you've developed some trust," she said. She also wants the magazine to be a showcase for the work of members and staff, to potentially open more doors to further opportunities for them. The cover of the first print edition has already provided special recognition for the family of one staff member, office coordinator Mya Thway-Saddler. Her father's artwork is on the cover "and I'm really proud of it," Thway-Saddler said. Phillip Sitter covers the suburbs for the Des Moines Register. Phillip can be reached via email at psitter@ or on X at @pslifeisabeauty. This article originally appeared on Des Moines Register: Iowa refugee and immigrant organization launches magazine
