Donald Trump’s victory in the U.S. elections has raised concerns about higher tariffs on China and other Asian countries, as deficits with other Asian exporters have risen significantly according to Goldman Sachs. South Korea, Taiwan, and Vietnam have seen large trade gains with the U.S., with South Korea’s trade surplus reaching a record $44.4 billion, Taiwan’s exports hitting a record high of $24.6 billion, and Vietnam’s trade surplus standing at $90 billion. Trump’s proposed tariffs are expected to impact more open economies in the region, with Taiwan particularly exposed. Despite potential tariffs, Goldman predicts continued pressure for supply chains to relocate from China to Southeast Asia, India, or Mexico.
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Met Office sees greater chance of hot summer and heatwaves
The UK is predicted to experience a hotter-than-normal summer in 2025, with an increased likelihood of heatwaves, as stated by the Met Office. In its latest three-month outlook, the Met Office indicates that the meteorological summer, spanning from June 1 to August 31, is twice as likely to be hotter than average. This forecast follows an unprecedented spring, which was recorded as the sunniest, as well as one of the driest and warmest in history....
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