Shares in clothing companies and sports equipment manufacturers – which have a large footprint in Vietnam – rose on the news, but later declined sharply after Trump released details including the continued tariffs, which were higher than expected.
Trump’s trade adviser Peter Navarro has called Vietnam a “colony of China”, saying that one-third of Vietnamese products are in fact relabelled Chinese goods.
Beijing’s commerce ministry said on Thursday it had “always firmly opposed” US tariffs.
“China’s position is consistent,” He Yongqian, spokeswoman for China’s ministry of commerce, told a briefing.
“We are happy to see all parties resolve economic and trade differences with the United States through equal consultations, but we firmly oppose any party reaching a deal at the expense of China’s interests,” she said.
Source: CNA
