The Reference News website reported on April 26 that the Forbes biweekly website of the United States reported on April 24 that as the world's two largest economies, if a trade war breaks out between China and the United States, Malaysia, Taiwan region, South Korea and Brazil will suffer greatly.

  Scott Kennedy, deputy director of the Freeman Institute for China Studies at the Center for Strategic and International Studies, said, "The impact of the full-scale business rivalry between the United States and China is global." Global companies are all part of the supply chain to China.

  The following are the four places that will be most affected by the increase in tariffs:

  Brazil

  The trade war will lead to overcapacity and excessive inventory in both China and the United States. Stuart ORR, a professor of strategic management at Deakin University in Australia, said that producers from both countries would look for other places to "dump" their goods, and one of them was soybeans. ORR said that if soybeans flood the global market, other countries that are already selling soybeans to supply global consumption will face sudden competition. The third country most likely to be affected is Brazil. This South American country produces 30% of the global supply, second only to the United States. China ranks fourth.

  Malaysia

  This Southeast Asian country has long relied on the export of crude oil and palm oil. However, this economy now also relies on exporting electronic products, machinery and their components to China and the United States. Information collected by Moody's Analytics shows that the most exported products from Malaysia to the two countries last year were circuit boards and components for electronic products. Joey Lankoski, a senior analyst of credit strategy and research at Moody's Analytics, said that these products might be affected by the trade restrictions between China and the United States, as Chinese or US companies would reduce order volumes or demand lower prices.

  Korea

  The latest report, citing the valuation of the Institute of International Trade, a South Korean research institution, said that if China and the United States impose additional tariffs, the value of South Korean semiconductors shipped to China will decline by 4 billion US dollars annually. It is reported that memory chip manufacturers Samsung Electronics Co., Ltd. and South Korea's Hyundai Electronics Industries Co., Ltd. will also be hit. Mary Dylan, managing director of Moody's Analytics' Sovereign Risk Assessment Group, said, "If protectionist measures have a long-term and significant impact on global trade, then trade-dependent economies such as South Korea or Malaysia will be affected."

  Taiwan

  Sagita Parn, a senior industry analyst at the Taipei Institute of Industrial Intelligence, said that since the production bases of solid-state drive manufacturers such as Lite-On Technology and computer display producers such as Foxconn are located in the Chinese mainland and their products are on the Washington tariff list, the cost of shipping them to the United States will increase.