Hong Kong — Asian exporters lost momentum in June even before tariffs on US and Chinese goods kick in this week, pressuring regional factory activity in a worrying sign the Trump administration’s "America First" protectionist policies could derail global growth. Shipments from China and Japan, major manufacturing hubs, contracted in June, while businesses across Asia also took on higher input costs as the price of oil and other commodities rose, according to monthly manufacturing surveys. A separate Bank of Japan (BoJ) survey showed business confidence among big manufacturers worsening for a second consecutive quarter, in a blow for Abenomics and the BoJ’s plans to wean the economy off stimulus. Stocks eased and oil prices fell as data across Asia showed world trade might have peaked, suggesting the strain on regional economies is likely to intensify as the effects of the heated China-US trade war ripple through global supply chains. "We expect the net contribution of trade to growt...

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