On April 3, economists at Morgan Stanley said that Trump's imposition of reciprocal tariffs on Asia may have a greater drag on economic growth than in 2018-19. Given that most countries in the region have trade surpluses with the United States, Asia is the most vulnerable to tariffs. Economists said the focus will be on whether these countries can negotiate a deal with the United States to reduce tariffs. Economists pointed out: "Rising policy uncertainty will weigh on business confidence, which in turn will depress capital spending and trade. We believe that the more trade-oriented an economy is, the greater the drag (tariffs) will be on economic growth.