Vietnam may become Trump's new target.
The U.S. Wall Street Journal revealed today: "President Trump is reshaping the global trade landscape to favor America. A year later, the biggest surprise winner is Vietnam. Federal data shows that Vietnam's trade surplus with the United States reached $114 billion in the first half of this year—surpassing Taiwan (region), Mexico, and even China (mainland)."
As Sino-U.S. rivalry intensifies and the global trade landscape undergoes sudden changes, Trump has raised high tariffs on China, forcing global supply chains to shift away from China. Thanks to its proximity to China, Vietnam has absorbed a large amount of textile and electronics assembly capacity relocating from China. In just a few years, Vietnam has surged to the top of the list for trade surplus with the U.S., becoming the biggest 'unexpected winner' in this round of Sino-U.S. competition.
Victory came through Trump, and trouble may also come from him. The benefits Vietnam has gained could soon become Trump's next target. To Trump, there are no "long-term allies"—only "America First." Any economy creating massive trade deficits for the U.S. is simply a lamb waiting to be slaughtered. With Vietnam's trade surplus now glaringly large, Trump swiftly imposed steep tariffs on Vietnamese goods—Vietnam now faces mounting pressure.
Original source: toutiao.com/article/1874642648451273/
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