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<Research>CLSA: US Reciprocal Tariffs Worse Than Expected; ANTA SPORTS/ POP MART Preferred
Recommend 20 Positive 28 Negative 35 |
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US reciprocal tariffs are worse than expected, with current export tariffs from China to the US on toys and home appliances/ certain light industrial products at 54%/ 79%, CLSA opined in its report. In addition, US tariffs on Southeast Asian countries have also risen notably, with Vietnam at 46% and Cambodia at 49%. The direct impact of the tariffs is that China's and Southeast Asia's tariff hikes have reduced the relative cost advantage for OEM companies and those using supply chains for overseas expansion, according to the report. In search of defensive strategies, CLSA suggested focusing on brand companies targeting domestic demand with market share expansion stories, such as ANTA SPORTS (02020.HK). The broker also favored companies with strong pricing power and flexible cost structures, like POP MART (09992.HK). AAStocks Financial News |
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