Asia’s Factories Suffer Major Blow as Tariffs Dampen Demand (1)

Manufacturing activity across most of Asia contracted in April, with companies struggling with weaker demand and pausing new orders in the face of US President Donald Trump’s baseline 10% tariff.

Purchasing managers indexes for the region’s factory giants, including South Korea and Taiwan, slipped sharply last month as the global trade uncertainty led to declines in new orders and cutbacks in production, surveys published by S&P Global showed on Friday. India was an outlier, showing an expansion in activity.

Trade bellwether Taiwan posted a PMI of 47.8 in April, its lowest in 16 months and staying well ...