Trade Win

Tariffs win again:

The Vietnamese Prime Minister Phạm Minh Chính had set up a “rapid response team" and had said that his deputy Ho Duc Phoc would head to the United States for a “working visit". According to data from the US Trade Representative website, the United States imported $136.6 billion worth of goods from Vietnam last year, representing nearly 30 percent of its GDP. Ahead of Trump’s announcement, Vietnam had cut imports duties on a large number of goods from liquefied gas and some agricultural products to cars but despite that Trump slapped a 46% tariff on Vietnamese goods entering the US to retaliate against the 90% tariffs it imposed on American goods. It also announced that it would allow Elon Musk’s SpaceX to launch its Starlink satellite internet service in a pilot programme running to 2030.

The trade wars are ending...