“I just had a very fruitful conversation with this Lamm, Secretary General of the Communist Party of Vietnam, who told me that Vietnam wants to lower his duties to zero, if he managed to reach an agreement with the United States. I thanked him on behalf of our country and said that I was looking forward to a meeting in the near future” – described Donald Trump on his social portal. Truth.
Donald Trump talks about agreement with Vietnam. Moving on Wall Street
The US President did not clearly specify whether he is willing to lower the duties for Vietnam, which according to Trump's plan is to receive one of the highest customs rates of 46 percent. After the entry, the leaders have strongly gained Nike's ratings on Wall Street, who had many factories in Vietnam. The company's shares increased by over 5 percent. On Friday after a 15 % decline on Thursday.
Applying high duties on Vietnam was one of the biggest surprises from Trump's customs announcements from Wednesday. This country is one of the centers of cheap industrial production alternative to China, including textiles, but also e.g. electronics and semiconductors. A large part of Samsung phones is produced in the country. At the same time, Vietnam, however, is also a gateway for China, through which the Chinese bypass duties and sanctions.
Even before the announcement of customs, the Vietnam authorities strongly sought to conclude a arrangement with a new administration; On Monday, they lowered their duties on a series of American goods, from LNG to Cars and Arable Products. However, these efforts turned out to be in vain, because the height of the customs officers announced by Trump – contrary to the principle of reciprocity towards the commercial practices of partners – was not dependent on the barriers of other countries, but on their balance sheet in trade in the US.
Donald Trump corresponds to China. “They played it wrong”
In addition to Vietnam, Trump on Friday also referred to China's reaction, which announced 34 % retaliation duties on goods from the USA. It is an analogous rate to the one used by Trump towards Beijing.
“China played it badly, panicked. This is the only thing that countries cannot afford – said the US president.
