Trump puts Asia on track for 'significantly lower growth,' ADB says

Preliminary modeling suggests China's expansion rate will drop 0.9 of a point

A container ship passes a car cargo ship at a port terminal off Singapore on Feb. 20. The Asian Development Bank says the trade-oriented city will suffer a particularly hard blow from the U.S. tariffs. © Reuters

RAMON ROYANDOYAN

April 9, 2025 09:04 JST

MANILA -- Emerging Asia and the rest of the global economy face "significantly lower growth" due to the sweeping U.S. tariffs by President Donald Trump, the chief economist of the Asian Development Bank has warned.

Albert Park told reporters ahead of Wednesday's release of the bank's flagship publication, the Asian Development Outlook, that the global economy, as well as the U.S., China and emerging Asia, will experience "substantially lower growth" due to Trump's tariffs.