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Vietnam will try to ease reliance on US trade

Monday, July 29, 2019

Subject

Vietnam's trading ties with the United States and other countries.

Significance

Vietnam-US ties are burgeoning, and the United States is Vietnam’s largest export market. Yet US President Donald Trump in June said Vietnam was “almost the single worst abuser of everybody” with regards to trade practices, one month after the US Treasury put Vietnam on a watchlist for currency manipulation.

Impacts

  • Vietnam will gather evidence to show the United States that it is not manipulating its currency.
  • Hanoi will crack down on Chinese goods being shipped through Vietnam as a means of evading US tariffs.
  • Vietnam will increasingly focus on trade accords that do not include the United States.
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