GLG released the findings of its survey on the impact of U.S. tariff and trade policies on Asia-Pacific (APAC) businesses, which drew insights from more than 300 senior leaders at APAC firms that export to the U.S. The survey found that U.S. policies have led most respondents to expect declined financial performance for their businesses, have decreased trust in the U.S. as a trading partner and opt to raise prices or risk loss of market share rather than absorb tariff costs.
Respondents in every country surveyed—Australia, China, India, Japan, Korea, Malaysia, Singapore and Vietnam—said trade and tariff policy instability is the trend exerting the greatest impact on their businesses, outweighing other macro trends, like inflation, and megatrends, like AI. Across the countries surveyed, more than half of consumer goods, food and agriculture products exporters said they had switched their market focus away from the U.S. In China specifically, over 65% of respondents across all industries surveyed said they were looking to target markets other than the U.S.
The report also features insights from 50 U.S. importers and takeaways on price increases, headcount reductions, bright spots and other themes.
“In a constantly shifting economic landscape, this survey offers an exclusive look at the latest impacts of tariffs—and potential next steps—from senior decision makers throughout Asia-Pacific and across industries,” said GLG chief of Asia-Pacific Moe Ali. “We’re grateful to our network of top experts for sharing their insights, and proud to help our clients shape their strategies with verified, first-hand expertise.”
