Jayson Wu, the Chinese owner of a furniture factory in Hanoi, has no idea what he will do if American president Donald Trump goes ahead with his unprecedented prices of the “Liberation Day”.
The plan – which will increase American tasks on Vietnam goods by 46% – has not yet entered into force, but it has already struck its business as a bomb.
“My American customers have canceled all their orders and the factory stopped,” said Wu. “I can only wait to see what’s going on with the prices on the 9th. Otherwise, where can I move the factory now? Most countries in Southeast Asia are also faced with prices. ”
Wu is one of the many owners of Chinese companies in Vietnam who find themselves faced with a dilemma while Trump threatens to launch a full -fledged world trade war.
For Chinese companies, Vietnam has offered a way to avoid American tasks for China, as well as low labor costs, cheap rent and stable trade relations with China thanks to complete economic partnership (RCEP).
