Goods for export loaded on a container at a logistics hub in Yiwu, China, China has used Vietnam and other neighboring countries to circumvent American tariffs on its goods.
The president said he had agreed to initial trade terms with Vietnam, the second country to strike a limited deal after Mr. Trump threatened steep tariffs.
The president said he had agreed to initial trade terms with Vietnam, the second country to strike a limited deal after Mr. Trump threatened steep tariffs.
U.S. imports from Vietnam have risen since President Trump’s first term, when he imposed hefty tariffs on China and manufacturers started searching for new locations for their overseas factories.
Shares of the company, CATL, surged in their first day of trading. Onshore U.S. investors were blocked from buying its stock as a “decoupling” of finance continued.
The president said reducing tariffs to 80 percent from the current 145 percent “sounds right,” as U.S. and Chinese negotiators prepare to meet in Switzerland.
Beijing says it will meet with American officials to discuss trade, but warned Washington against using the engagement to ratchet up pressure on China.
The threat of 46 percent levies, among the highest for any country, is rattling Vietnam’s factory managers and workers, as well as thousands of exporters.
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