Nomura economists found that the U.S. and China, in order to avoid elevated tariffs, have cut down importing certain goods from each other.
Vietnam and Taiwan benefited mostly from additional exports to the U.S., while Chile, Malaysia and Argentina gained by selling more to China, according to Nomura.Looking at products subject to higher tariffs, Nomura economists found that levies imposed by Washington on China pushed U.S.-based firms to opt for alternative sources for many sets of products. That includes electric apparatuses for phones, parts of office machines, automatic data process machines, furniture and travel goods.
These are some of the products that Nomura said the top five beneficiaries have been exporting more as a result of the trade war:Taiwan: typewriter parts, office machines, phone partsArgentina: soybeans
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