Trump’s tariffs will pummel Vietnam
Though there are a few silver linings
ACROSS THE globe, the tariffs imposed or threatened by President Donald Trump have shaken markets and economies. But one country is particularly exposed. From April 9th Vietnam is scheduled to be on the receiving end of a 46% “reciprocal” tariff, in retaliation for its $123bn trade surplus in goods with America last year. Many in Hanoi had reckoned that tariffs were coming, but the scale of Mr Trump’s punishment has come as a shock. The Ho Chi Minh stock index fell by 7% after the announcement, the biggest daily drop in over two decades. Trading volume reached a record high.
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