Emerging Economies Diversify Exports Amid Trade Pressures

India's trade deficit with China reached a record $99.2 billion in FY 2024-25, largely due to undiversified, low-value exports, spurring calls for broader export diversification strategies. South Africa now faces a new 30% US tariff on its exports, threatening up to 100,000 jobs and prompting the government to negotiate with the US, seek new markets in Africa and Asia, and accelerate intra-African trade efforts. Thailand is also responding to global trade uncertainties and shifting US policies by strengthening its export sector through business-matching events and market diversification initiatives. These actions reflect a broader trend among emerging economies to build export resilience and reduce dependency on single markets in the face of rising protectionism and global volatility.