Goldman Sachs:
- expects further fiscal easing from China to offset added growth drag from tariffs
- estimates new 34% tariff would weigh on Chinese GDP by at least 0.7 percentage point this year
- cuts 2% to 2025 earnings for China, from 9% to 7%.
- downgrades Taiwan to underweight in Asian market allocations, citing its high exposure to US exports, Asian supply chain, and US market sensitivity
