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Market Strategy – WHAT A TRADE WAR MEANS FOR VIETNAMESE EQUITIES

Strategy Note 20/08/2018    211

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Trade tensions are here to stay
Despite the recent announcement of low-level trade talks between the US and China, a “slow-burn” trade war is likely to persist. Following the Trump administration’s first wave of tariffs against US$34bn worth of Chinese goods in July, China immediately responded with a similar scale of tariffs targeting US imports. A tit-for-tat ensued with the US extending tariffs to US$50bn worth of Chinese goods (with the additional US$16bn due to take effect by the end of this month), China threatening to match the US escalation and, finally, President Trump’s threats to target up to US$200bn worth of Chinese imports.

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