“For China, another rise in US import tariffs comes at an especially tricky time, with local demand far less robust than the first time around,” says the team in its report.
Asia will need plenty of the snake’s traits to navigate through the complex terrain marked by trade tensions, policy shifts and structural shifts this year. After all, people born in the upcoming Year of the Snake are said to have wisdom, charm and a strong intuition, notes HSBC Global Research.
In 2025, trade looks set for a shakeup with an “inevitable” payback following last year’s record shipments. The US is also likely to impose new tariffs on its trading partners, with US President Donald Trump already planning tariffs on China, Mexico and Canada on Feb 1.
