India, other Asia-Pacific nations to see 0.2-0.4 ppts fall in growth if US levies reciprocal tariffs: S&P

NEW DELHI: (Apr 15) Major Asia Pacific economies like India, China, and Japan, will see growth fall by 0.2-0.4 percentage points (ppts) over the next two years if the US implements the reciprocal tariffs announced on April 2, S&P Global Ratings said on Tuesday.

It said that the threat and imposition of tariffs by the US will slow global trade and confidence. The region’s dependency on exports with China and the US will have an outsized hit on manufacturers and small economies.

“Should the tariffs announced on April 2, 2025 resume for economies ex-China, the geopolitical and economic fallout will be deep,” S&P Global Ratings, Asia-Pacific Head of Research, Eunice Tan said. PTI