2021 US imports from Vietnam doubled compared to 2018, driven by US tariff hikes on China.
US tariff hikes on China have driven a surge in imports from China-reliant Vietnam, increasing its trade surplus with the US to the fourth highest, behind China, Mexico, and the EU. Vietnam's export boom is largely driven by imports from neighboring China, with flows correlating 96% in recent years. US imports from Vietnam in 2021 were more than twice the amount in 2018, accounting for over half the $110bn drop in imports from Beijing.
May 16, 2024
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