Thu, 27 Mar 2025

Thu, 27 Mar 2025 Can Vietnam golf its way out of new Trump tariffs?

Vietnam's Prime Minister has said he would "golf all day long" with the US president if it benefits his country.
Vietnam has a large trade deficit with the US and has been benefiting from firms moving factories out of China to avoid measures announced during Trump's first term. However, Prime Minister Pham Minh Chinh has suggested taking a more diplomatic approach, including possibly visiting Trump's Mar-a-Lago home in Florida to golf. The Trump Organization is planning to invest billions of dollars in golf courses, hotels and real estate in Vietnam. Analysts say Vietnam is engaging well with Washington but may still not be able to avoid most of Trump's tariff plans. Vietnam has allowed SpaceX to operate its Starlink satellite internet service on a trial basis and will lower tariffs on several US imports, including energy and cars. Vietnam's "bamboo diplomacy" approach involves being adaptable to foreign pressures. If the US increases pressure, Vietnam might respond with offers to facilitate investments in certain industries or consider access to rare earth minerals. Concerns about China's influence are also a factor against Vietnam: it has emerged as a destination for major Chinese investment and China is its largest supplier of goods. Tariffs on Vietnam could impact US businesses such as Apple, Intel, and Nike, which have moved production lines from China to Vietnam.
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