If US President-elect Donald Trump fulfills his campaign promise to slap a 45% tariff on importation of China-made goods, the move would most likely hurt Japan, South Korea, and several other nations, which have become increasingly dependent on China for top export destination over the years.

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During his campaign speeches, Trump promised to impose a 45% trade tariff on all imports from China if it does not start changing its trade practices such as subsidizing the steel industry and withdrawing from the Trans-Pacific Partnership (TPP).

TPP is a 12-nation free trade agreement that covers mostly the US main Asian allies. The accord has effectively expired last Friday, and the Obama administration said there was nothing it could do to revive it.

Growth spurt

For the past 15 years, China has experienced a growth spurt that saw the country become a top export destination for many countries. During these years, China has overtaken the United States as the world's biggest market for manufacturers and exporters like South Korea, Japan, and Brazil.

Economists said these countries would suffer a domino effect if China suffers a slowdown due to the high tariff. If China slows down, the rest of the exporting countries would also slow down since China would be purchasing less from these nations.

Trade actions

Trump's future trade actions against China would definitely raise the stakes for other nations, which rely heavily on Chinese trade to prop up their economies.

According to the International Monetary Fund, the Chinese economy has performed well in the last 15 years, accounting for a third of the world's growth.

Analysts said that although China's imports have declined in the past years, it still managed to purchase a large percentage of the world's exports last year.

"For many countries around the world, China is now the biggest trading partner, so this kind of tit-for-tat trade protectionism with China will dampen the atmosphere for the international trading community," Yorizumi Watanabe, a trade expert and professor at Japan's Keio University, said.

TagsPresident-elect Donald Trump, China tariff, TPP, South Korea, Japan, trade actions