A US border adjustment tax can cost globalisation dearly

Singapore

WHAT do shoes, shirts and handbags have to do with Wall Street? Nothing much ordinarily, but that might change if a US border adjustment tax becomes a reality.

It all depends on how Asian suppliers deal with the proposed levy. The impact on them would be uneven, and not just because they have different levels of exposure to the American market. Some, like Li & Fung Ltd, might even benefit by helping global retailers navigate a confusing barrage of tariff structures, Gadfly's Shelly Banjo has argued.