Trump, Vietnam
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Trump, Eswatini
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Vietnam’s leadership was caught off guard by US President Donald Trump’s announcement last week that it agreed to a 20% tariff, and the Southeast Asian nation is still seeking to lower the rate, according to people familiar with the matter.
Trump's influential trade adviser Peter Navarro dubbed Vietnam "essentially a colony of communist China. "Vietnam sells us $15 for every $1 that we sell them and about $5 of that is just Chinese product that comes into Vietnam,
By Francesco Guarascio (Reuters) -Vietnam is preparing stricter penalties to crack down on trade fraud and the illegal transshipment of goods, and has focused its inspections on Chinese products as it tries to comply with commitments made to Washington,
Batteries Plus CEO Scott Williams said the chain has reduced its reliance on Chinese suppliers for car batteries in order to minimize tariff costs.
A switch to making sneakers in the US from the likes of China and Vietnam is “virtually impossible overnight,” Reebok founder Joe Foster told Yahoo Finance Executive Editor Brian Sozzi in a new episode of the Opening Bid Unfiltered podcast (see video above or listen below). “It’s not something you can just turn the switch on.”
President Trump has made the issue of transshipping a centerpiece of his latest trade efforts. He announced a Vietnam deal in which tariffs are doubled on any such product and included language on the issue in letters sent to more than two dozen trading partners this past week including Saturday letters with 30% tariffs on both the European Union
Eagle Creek’s experience underscores how President Trump’s chaotic approach to tariffs is having a real impact, even before the toughest levies take effect.
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