As the confrontation between China and the United States, the two trading superpowers, compete with each other, the entire trading economy is affected, and many countries are looking for other forms of trade.

Vietnam’s Minister of Industry and Trade, tran tuan anh, said that this situation worries Vietnam because the US tariff on China may cause Chinese products to “flue in Vietnam”, including textiles, clothing and wood products.

As China will take this opportunity to export to Vietnam, Vietnamese officials worry that the trade war will have a negative impact on the Vietnamese economy.

In the past two weeks, the exchange rate of the RMB against the US dollar fell by 4.18%, while the decline of the Vietnamese Dong was only slightly higher than 1%. Therefore, China’s exports to Vietnam will be 3% cheaper than before. There are concerns that China’s export growth will gradually take away employment and manufacturing facilities in Vietnam.

In addition, when Vietnam exports from China to the United States, the United States can also impose the same tariffs on Vietnam. This will be a big challenge for Vietnam because the United States is one of Vietnam's largest export markets.

In addition to the potential threats, Vietnamese business leaders have seen tremendous opportunities in the trade war. As Chinese products are affected by US tariffs, foreign investors are likely to transfer orders to Vietnamese companies.

(Source: Jjgle.com)