Free trade agreements (FTAs) can indeed serve as a detour, allowing exporters in Vietnam to navigate trade war risks safely in the future. However, not all businesses are aware of this or have necessary conditions to take this route, said Dr. Nguyen Thi Thu Trang, director of the WTO and Integration Center (VCCI), in an interview with The Saigon Times. Has the Trump 2.0 administration’s goal changed? The Saigon Times: Recently, U.S. President Donald Trump ordered a 25% tariff on goods imported from Canada and Mexico (with a one-month suspension) and an extra 10% on items from China. China has retaliated by tightening exports of key metals and officially filing a case against the U.S. at the World Trade Organization (WTO). What do you think about these developments? Any chances of a U.S.-China trade war? How might it impact global trade? Dr. Nguyen Thi Thu Trang: Tariff is undoubtedly the buzzword in international trade today. Along with it come predictions of risks—ranging from “tensions” to full-scale “trade war”—between nations, as well as risks for the global trade system. In reality, Trump’s recent tariff measures have already led—or could lead—to retaliatory actions, also through tariffs, from the affected countries. China, for […]
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