November 12, 2024

Vietnam May Find it Harder to Profit From New US-China Trade War

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The last time Donald Trump was the US president, Vietnam reaped big benefits from the trade war he started with China. This time around the outcome could be different.

Trump has threatened tariffs of as much as 60% on Chinese goods in his second presidency, and duties of up to 20% for all imports from other countries. While Vietnam waits to see what specific measures it faces, some economists warn it could be one of the hardest hit countries in Asia due to its ballooning trade surplus with the US and Trump’s determination to bring more manufacturing jobs back to the US.

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