Amidst the ongoing US-China trade war, Chinese President Xi Jinping embarked on a regional tour, visiting Vietnam, Malaysia, and Cambodia. His message, echoing a previous statement to the Spanish Prime Minister, emphasizes that there are no winners in trade wars, urging against protectionism.
Xi's visit to Vietnam, a vibrant economy with close ties to both China and the US, highlights the complexities of the trade war. Vietnam's economic success, fueled by exports and foreign investment, has made it a key player in global supply chains, benefiting from the shift away from China under the previous Trump administration. However, Vietnam, along with other Asian nations, has felt the impact of the new Trump tariffs.
Xi is expected to sign numerous agreements during his visit before continuing to Malaysia and Cambodia, both of which are also facing US tariffs and are seeking reductions during the partial 90-day truce.
The article details the back-and-forth tariff increases between the US and China, noting a temporary US exemption for certain products, seen as a partial success by China. While Washington has indicated that these products will still face tariffs, the specific amount remains undisclosed.