South Korea's annual export volume is as high as 1 trillion US dollars, and the economy is extremely dependent on foreign trade. China is South Korea's largest export market, involving 79% of intermediate materials, including semiconductors, materials, parts and components, and many companies exporting to the United States. The factory is located in China and processed locally. These industries are indirectly affected by tariffs imposed by the United States. Some people with information technology say: "The trade war will definitely lead to a decrease in the total amount of China." The local "Central Daily News" said that Domestic public opinion is worried that South Korea may become the biggest victim of trade war.
Zhou Yuan, a scholar at the Institute of Modern Economics of South Korea, said that if the materials for indirect exports are taken into account, the Sino-US trade war will lead to a reduction of South Korea’s exports to China by US$28.26 billion. South Korea’s public opinion is more worried that the EU’s involvement in the war has ravaged the global economy, South Korea Trade Association It is predicted that this will reduce global trade by 6%, and South Korea's exports will fall by 6.4%, amounting to US$36.7 billion (about HK$286.2 billion). Some scholars have urged the authorities to study industrial restructuring and reduce dependence on China.
In Asia, the industry generally predicts that China will impose tariffs on US crude oil. In the context of the Sino-US trade war, the refining company is expected to suppress Iranian crude oil exports from November, and has begun to change its import strategy to ensure crude oil supply. Chain stability. South Korean energy analysts believe that the Sino-US trade war is not good for South Korea's prospects; but if US crude oil leaves China for tariffs and seeks new markets, South Korea has the opportunity to get preferential prices.
In Japan, the industry is worried that the goods produced in China will be hit by taxation in the United States. Dahe Securities' think tank organization predicts that in this trade war, Japanese companies are directly affected by the output value of 53.3 billion yen (about 3.7 billion Hong Kong dollars). Mitsubishi Heavy Industries Co., Ltd. said recently that industrial machines are not listed as US tax targets, but Japanese car assembly machinery made in China is expected to be dragged down by the business of the car factory. Some Japanese e-commerce companies said that they are worried about China. The semiconductor produced will be included in the taxation object.
During the interview, Martin Wansleben, the Director General of the German Chamber of Commerce and Industry, criticized the United States for ideology, politics and election considerations. Wansleben described the US approach as if he were "hands-on" in a football match. The goal is to "go a goal", but the reason is "based on American rules."
The deputy director-general of the association, Treller, believes that if Sino-US trade disputes escalate, German companies will not be spared. This is because German companies have a growing supply chain relationship with their branches in China and the United States. Germany cooperates to maintain the international trade order. Vice-President of the European Union Chamber of Commerce in China said that no one can benefit from the trade war.