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U.S Border Tax May Hurt More Than Mexico as Asia Exports at Risk

Vietnam, Malaysia, Taiwan and South Korea may be hurt the most
A cargo ship sits berthed as stacked containers stand among gantry cranes at Tanjong Pagar Container Terminal, operated by PSA International Pte, at the Port of Singapore in Singapore.

A cargo ship sits berthed as stacked containers stand among gantry cranes at Tanjong Pagar Container Terminal, operated by PSA International Pte, at the Port of Singapore in Singapore.

Photographer: SeongJoon Cho/Bloomberg
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With the threat of U.S. border taxes becoming more real, Asia is bracing for a trade backlash. A new report from Credit Suisse Group AG shows Asian nations should be rightly worried. 

If the U.S. Congress passes a mooted border tax plan, Asian exports could fall 3 percent to 4 percent, reducing the growth rate in the region by 0.5 percentage point, Credit Suisse economists Santitarn Sathirathai and Michael Wan said in a report.