"The likelihood of no action on trade seems low given the consistent message during the campaign, the policy platform on the President-elect's webpage, and the hawkish orientation of the officials who have been nominated to trade-related positions in the incoming administration," wrote the analysts.
The investment bank's economist estimate that U.S. import cuts would reduce economic activity in Asia about 2.6 times the extent of the cuts.
A U.S. import cut of 1 percent of GDP (about 7 percent of U.S. imports) could cause output losses of nearly 1 percent of GDP for Taiwan and South Korea and 0.6 percent of GDP for China, they estimate.
A 5 percent drop in U.S. imports could lead to an 8 percent decline in the regional MSCI AC Asia Pacific excluding Japan Index, they project.
Here are the areas most vulnerable to trade barriers: