Articles tagged with “xijinping”

Chinese President Xi Jinping's tour of Vietnam, Malaysia, and Cambodia has sparked U.S. criticism as he advocates for free trade in a region facing high American tariffs. During his Vietnam visit, agreements on supply chains and a joint railway were signed. U.S. President Donald Trump accused Xi of seeking ways to undermine U.S. interests. Vietnam faces a potential 46% U.S. tariff on imports, threatening its tech manufacturing sector, which includes factories for Samsung, Intel, and Apple suppliers. The U.S. has granted a 90day negotiation period before tariffs take effect, prompting Vietnam to seek a bilateral trade deal. Vietnam's rise as a tech manufacturing hub began in 2008 with Samsung's first smartphone factory. The U.S.China trade war further boosted its appeal, attracting major firms like Apple, Foxconn, and Lenovo. However, recent global demand slumps led to job cuts, forcing workers to pivot to other industries. During the pandemic, Vietnam enforced strict factory lockdowns to maintain production. China's zeroCovid policies later drove more manufacturers to Vietnam. Experts warn that new U.S. tariffs could disrupt Vietnam's economy, given its reliance on Chinese components. The temporary tariff pause offers little longterm security for the sector.