Americans are still trying to figure out how a second Trump administration will affect their lives. That's also true for countries around the world — including in the Asia Pacific.
From Japanese currency to South Korean batteries, a second Trump administration is changing expectations in Asia.
Markets pushed the yen lower against the dollar after the U.S. election results became clear.
Traders believe increased tariffs in the region would move inflation higher — along with the dollar.
In South Korea, battery makers expanded plants in the United States, encouraged by incentives under the Biden-era Inflation Reduction Act, which may shrink under Trump.
Korea's Joong Ang Daily reports no sudden moves are expected, but battery makers and electric vehicle producers are looking cautiously at the politics of renewable energy incentives.
Taiwan's president called Trump to congratulate him — perhaps with an eye on remarks Trump made this summer, suggesting, “Taiwan should pay us for defense.” He added, “We're no different than an insurance company.”
But it's the tariffs that get the most attention in local media, starting with the threat of 60% tariffs on all Chinese exports to the United States.
The main concern is the potential regional spread of any negative impact on the economy of China. For most countries in the area, it is their largest trading partner.
