Most big emerging economies, including China, Brazil, and India, can withstand U.S. tariffs without significant harm, a study by Verisk Maplecroft shows. Mexico and Vietnam are most exposed to U.S. trade dependence, but have progressive policies and infrastructure. Brazil and South Africa are building links with other trade partners for protection.

China is deeply entrenched in global trade, making it difficult to replicate elsewhere, despite tensions with the U.S. Its diversified export base and human capital are strengths. China’s efforts to expand the use of the renminbi in trade settlements boost economic resilience. Brazil, Argentina, and Chile have local-currency settlement deals with China.

Trump’s trade policies are impacting China’s exports, with October seeing the worst downturn since February. China’s push to use the renminbi in trade settlements is a strategic move. BRICS nations are increasing trade among themselves to reduce reliance on the U.S. and China. Russia was not included in the study.

Read more at Yahoo Finance: Most emerging nations can realign trade to weather US tariffs, report finds