US tariff deal provides relief for Vietnam, and a sting in the tail for China

A man shops for shoes from a Nike store at an outlet in Los Angeles, California on April 10, 2025. Trump on April 9 announced a 90-day pause on the most onerous new tariffs on imports to the United States for every country except China. Americans spend about $31 billion on sneaker brands with almost all sneakers in the US market coming from Asian countries of Vietnam, China, Indonesia and Cambodia, as Trump tariffs impose a new consumption tax of at least 42% on most inbound sneakers to the United States. (Photo by Frederic J. BROWN / AFP)

Vietnam had been one of the biggest winners of the first iteration of US President Donald Trump’s trade war.

PHOTO: AFP

Philip Wen

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BANGKOK – Given the vagaries of the Trump administration, Vietnamese Prime Minister Pham Minh Chinh displayed considerable confidence on June 25 when he anticipated striking a trade deal with the US.

“I hope that you will see that the result will come earlier than two weeks,” he said, speaking on a panel at the “Summer Davos” in Tianjin, China, before the pause on the 46 per cent reciprocal tariffs was due to lapse on July 9.

US tariff deal provides relief for Vietnam, and a sting in the tail for China

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