The restrictions that Japan has announced on the sale of certain technology products to Korea could, if fully implemented, have a significant effect on Korea’s economy. However, past experience suggests that it should be relatively easy for Korean companies to circumvent the ban, and as a result, the impact on the economy is likely to be quite small.
Meanwhile, the decision by the US to impose tariffs of over 400% on certain steel imports from Vietnam will only have a very small impact on Vietnam’s economy. However, the announcement is the latest sign that the surge in Vietnam’s exports to the US has not gone unnoticed. A major escalation in trade tensions with the US is the key risk facing Vietnam this year.
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