#trade-diversification

#trade-diversification

Within a year, the US's second-largest trading partner has rapidly ramped up efforts to explore new deals with regional powers in Asia, or to revive talks that had been previously put on ice. As of November, the US has imposed a 35% tariff on all goods from Canada that are not covered by the USMCA. Canadian exports of steel and aluminum to the US also face a 50% duty.

Just about every major exporting economy was hit by U.S. President Donald Trump's "Liberation Day" tariffs in April. Malaysia was no exception, getting a 24% "reciprocal tariff" on its exports to the U.S. which, while perhaps not as catastrophic a level as some of its neighbors, still posed a significant threat to the Southeast Asian economy. Yet, Malaysia's government took a more measured response to new U.S. protectionism.

Nigerian equities opened flat on Thursday, with electronic technology and health technology outperforming.