Part 3/10:
China has swiftly retaliated by imposing a 34% tariff on U.S. goods, reflecting the immense trade relationship that exists—$583 billion in total trade, with the U.S. exporting approximately $143 billion and importing $438 billion from China. Meanwhile, Vietnam opted for a conciliatory approach, choosing to eliminate trade barriers with the U.S. The logic behind this decision is rooted in the understanding that China’s tariffs could inadvertently harm American consumers, as Vietnam plays a crucial role in global manufacturing, being a production hub for numerous brands such as Adidas and Nike.
This backdrop sets the stage for a keen focus on the European Union (EU), often considered Trump's favorite target in trade disputes.