Expect growth opportunities from more regional trade amid US tariffs: DBS
EVEN though the Trump administration may cause global volatility, DBS expects to gain from more intra-regional trade as a result of US tariffs, said deputy chief executive and CEO designate Tan Su Shan.
The lender will also focus on trade opportunities between Asean and North Asia and Europe, given that there are more multinational corporations from Europe and Asia that are looking to do more within Asia as a result of the tariffs, she said.
“While there will be reactions around some of the tariffs, at least for our markets in Asia, especially in China and South-east Asia, the countries here are looking to be more resilient internally and to look at more intra-regional trade,” Tan said at a briefing on Monday (Feb 10) for the lender’s fourth-quarter 2024 results.
Her comments came on the back of yet another tariff announcement by US President Donald Trump on Sunday, where he said he would impose 25 per cent tariffs on imports of steel and aluminium.
He had earlier ordered tariffs against China, Mexico and Canada, although the levies against the latter two were paused after they agreed to step up on border and crime enforcement.
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