The trade conflict between the US and China has the potential to affect Vietnam’s trade with both countries as both are important trading partners. The imposition of safeguard tariffs by the US will affect Vietnam’s exports to the US. The tariffs imposed on China raises the possibility of trade and investment diversion to Vietnam. Reexports play an important role in Vietnam’s export adjustments to the US and China. The possibility of investment diversion from China is high given the growing presence of China’s investment in Vietnam, which leads to both positive and negative impacts on Vietnam. This paper shows the positive and negative effects of the USChina trade war. It also provides some solutions to take advantage of the positive effects as well as limit the unexpected effects of the trade war.
FOREIGN TRADE UNIVERSITY FACULTY OF ENGLISH FOR SPECIFIC PURPOSES THE IMPACTS OF THE US-CHINA TRADE WAR ON VIETNAM Authored by: Group – TAN432(1-1920).2_LT Submitted to: M.S Phan Kim Thoa Ha Noi, November 2019 CATERGORY TABLES AND FIGURES ABSTRACT INTRODUCTION TERM AND DEFINITIONS BACKGROUND INFORMATION ON THE US-CHINA TRADE WAR 2.1 Causes of U.S Trade War with China .8 2.2 The US – China Trade War Major Events Timeline THE IMPACTS OF THE US-CHINA TRADE WAR ON VIETNAM 11 3.1 Positive impacts 11 3.1.1 Encourage export from Vietnam .11 3.1.2 Encourage FDI into Vietnam 13 3.2 Negative impacts 14 3.2.1 Trade diversion .14 3.2.2 The risk of commercial fraud due to investment diversion .16 3.2.3 Negative impacts on the environment and social security 17 SOLUTIONS .19 4.1 For government .19 4.2 For companies .20 CONCLUSION 21 REFERENCES 22 TABLES AND FIGURES Figure Item structure Import from China in the US tax package US $50 billion worth of goods since 2018 12 Figure Item structure Import from China in the US tax package US $200 billion worth of goods in September 2018 .12 Figure Top countries having the largest trade surplus with America in 2017 .17 ABSTRACT The trade conflict between the US and China has the potential to affect Vietnam’s trade with both countries as both are important trading partners The imposition of safeguard tariffs by the US will affect Vietnam’s exports to the US The tariffs imposed on China raises the possibility of trade and investment diversion to Vietnam Re-exports play an important role in Vietnam’s export adjustments to the US and China The possibility of investment diversion from China is high given the growing presence of China’s investment in Vietnam, which leads to both positive and negative impacts on Vietnam This paper shows the positive and negative effects of the US-China trade war It also provides some solutions to take advantage of the positive effects as well as limit the unexpected effects of the trade war INTRODUCTION The American - China trade war is an ongoing economic conflict between the world’s two largest national economies, China and the United States The US has a larger nominal GDP, whereas China has a larger GDP when measured in terms of PPP China as the world's largest exporter and the United States as the world's largest importer They have so far been important pillars for the global economy In 2018, President Donald Trump began the trade war by setting tariffs and other trade barriers on China to force it to make changes to what the U.S says are "unfair trade practices" The trade war has caused a significant deterioration in China–United States relations as the countries exchanged tit-for-tat tariffs for over a year, with Trump threatening more to come and no resolution in sight In the United States, the trade war has brought struggles for farmers and manufacturers and higher prices for consumers In other countries, it has also caused economic damage, though some countries have benefited from increased manufacturing to fill the gaps It has also led to stock market instability The governments of several countries, including China and the United States, have taken steps to address some of the damage The trade war has been criticized internationally Many economists argue that escalating tariffs conflicts result in no winners External trade plays an important role in Vietnam’s economy, providing an opportunity for exporters to gain economies of scale by venturing outwards beyond the confines of the small domestic market Vietnam has actively participated in global value chains, through the inflows of foreign direct investments (FDIs) in the country However, this openness to international trade also implies that Vietnam is susceptible to external shocks such as fluctuations in commodity prices and the ongoing trade war between the US and China as both are important trading partners for Vietnam The current trade tensions can affect Vietnam’s direct exports with the US due to the imposition of safeguard tariffs on selected items, which includes some of Vietnam’s major exports to the US It may also affect Vietnam’s trade with China since some of Vietnam’s exports to China contribute towards its exports of final products to the US as well as other third country export markets At the same time, any slow-down in China’s economy due to the negative impact of the trade war can also affect Vietnam There is also the possibility that the US may substitute some of its imports from China with imports from Southeast Asia, including Vietnam Investment diversion is another potential impact as investments shift away from China to avoid the tariffs Hence, the tariffs imposed on China has the potential to generate trade and investment spill-overs in Vietnam's trade with the US as well as China The objective of this study is to examine the potential impact of the ongoing trade war between the US and China on Vietnam’s trade and investment, environment, and social security Specifically, it suggests some solutions to take advantage of the positive effects as well as limit the unexpected effects of the trade war The paper consists of four (04) main parts: Terms and definitions Background information of the US-China trade war The impacts of the US-China trade war on Vietnam The solutions to deal with the US-China trade war TERM AND DEFINITIONS A trade war is when a nation imposes tariffs or quotas on imports and foreign countries retaliate with similar forms of trade protectionism As it escalates, a trade war reduces international trade A tariff is a tax that is paid on goods coming into or going out of a country (Oxford Dictionary) Tariffs are generally introduced as a means of restricting trade from particular countries or reducing the importation of specific types of goods and services For example, to discourage the purchase of Chinese leather handbags, the U.S government could introduce a tariff of 50% that drives the purchase price of those bags so high that domestic alternatives are much more affordable The government hopes that the added cost will make imported goods much less desirable A quota is the limited number or amount of people or things that are officially allowed (Oxford Dictionary) A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period A foreign direct investment (FDI) is an investment made by a firm or individual in one country into business interests located in another country Commercial fraud is a badge applied to a number of wide ranging different actions against or involving a company or business usually involving criminal activity or dishonesty I 1.1 BACKGROUND INFORMATION ON THE US-CHINA TRADE WAR Causes of U.S Trade War with China U.S politicians have long threatened a trade war with America's largest trading partner in goods A trade deficit occurs when exports are less than imports In 2017, the United States exported $130 billion to China The three largest export categories are aircraft at $16 billion; soybeans, $12 billion; and automobiles, $11 billion U.S imports from China were $506 billion Most of it is electronics, clothing, and machinery (According to the Guardian Newspaper) Half of all Chinese imports are goods used by U.S manufacturers to make other products They send raw materials to China for low-cost assembly Once shipped back to the United States, they are considered imports The tariffs raise their costs, forcing them to either raise prices or lay off workers An example is a salmon caught in Alaska and sent to China for processing, then sent back to U.S grocery shelves If Trump imposes tariffs on seafood imports, it will raise prices by 25 cents to 50 cents a pound (Source: USITC Data) China is the world's No.1 exporter Its comparative advantage is that it can produce consumer goods for lower costs than other countries can China has a lower standard of living, which allows its companies to pay lower wages American companies can't compete with China's low costs, so it loses U.S manufacturing jobs Americans, of course, want these goods for the lowest prices Most are not willing to pay more for "Made in America." 2.1 The US – China Trade War Major Events Timeline According to China Brief Total US tariffs applied exclusively to China: US$550 billion Total Chinese tariffs applied exclusively to the US: US$185 billion May 2, 2016: While campaigning for the Republican Party’s presidential nomination, Trump says “We can’t continue to allow China to rape our country and that’s what they’re doing It’s the greatest theft in the history of the world.” The statement is one of many that Trump makes on the campaign trail about China’s trade practices March 22, 2018: Trump signs a memorandum directing the following acts: To file a WTO case against China for their discriminatory licensing practices; To restrict investment in key technology sectors; and To impose tariffs on Chinese products (such as aerospace, information communication technology, and machinery) March 23, 2018: the US imposes a 25 percent tariff on all steel imports (except Argentina, Australia, Brazil, and South Korea) and a 10 percent tariff on all aluminum imports (except Argentina and Australia) April 2, 2018: China imposes tariffs (ranging 15-25 percent) on 128 products (worth US$3 billion) including fruit, wine, seamless steel pipes, pork and recycled aluminum in retaliation to the US’ steel and aluminum tariffs April 3, 2018: The USTR releases an initial list of 1,334 proposed products (worth US$50 billion) subject to a potential 25 percent tariff (list revised June 15) April 4, 2018: China reacts to USTR’s initial list, and proposes 25 percent tariffs to be applied on 106 products (worth US$50 billion) on goods such as soybeans, automobile, chemicals (list revised on June 16) May 3-7, 2018: the US and China engage in trade talks in Beijing, where the US demands that China reduce the trade gap by US$200 billion within two years Talks end with no resolution June 4-5, 2018: Two days of trade talks between the US and China held in Beijing June 15, 2018: Initial list of products reduced and finalized List now implements a 25 percent tariff on a reduced 818 products (from 1,334) and is set to take effect on July 6, 2018 List of 284 new products is also announced and under consideration June 16, 2018: China revises its initial tariff list (25 percent on 106 products) to now includes a 25 percent tariff on 545 products (valued at US$34 billion) This tariff will take effect on July 6, 2018 China also proposes a second round of 25 percent tariffs on a further 114 products (valued at US$16 billion) July 10, 2018: the US releases second tariff list September 7, 2018: Trump threatens new tariffs September 17, 2018: the US finalizes tariffs on US$200 billion of Chinese goods December 14, 2018: China levies temporarily lower tariffs on American autos; resumes buying US soybean exports January 7-9, 2019: the US and China engage in 3-day trade talks in Beijing January 22, 2019: the US cancels preparatory talks with China April 1, 2019: China bans all types of fentanyl April 3-5, 2019: the US and China hold trade talks in Washington April 30-May 1, 2019: the US and China hold trade talks in Beijing July 9, 2019: the US exempts 110 Chinese products from 25 percent tariffs, issues licenses to American Huawei suppliers September 5, 2019: China and the US agree to 13th round of trade talks 10 3.1 THE IMPACTS OF THE US-CHINA TRADE WAR ON VIETNAM Positive impacts 3.1.1 Encourage export from Vietnam The US-China trade war will bring export opportunities to the US and Chinese markets for some Vietnamese products The imposition of tariffs on Chinese exports will reduce the competitiveness of Chinese goods, which means reducing imports from China so they will be importing similar goods from other countries including Vietnam According to calculations by the Peterson Institute for International Economic Research from USITC data, among China's exports subject to 25% taxation by the United States in the first and second batch (totaling 50 billion USD), intermediate goods, means of production, means of transport account for a high proportion, while consumer goods account for a very small proportion However, when the 10% tax (increased to 25% on January 1, 2019) to the US $ 200 billion of goods imported from China took effect on September 24, 2018, the list has expanded Many consumer goods groups, including wood and furniture, bags, agricultural and aquatic products, are quite similar to some of Vietnam's major consumer goods exported to the US Looking at the export turnover of similar products from Vietnam to the US market in recent years, it can be seen that Vietnam's export sectors that have benefited the most include wooden furniture, agricultural and aquatic products, electronics, phones, computers, bags, suitcases According to the Peterson Institute for International Economic Research, in both times China levied a total retaliation of up to US $ 50 billion worth of imports from the US and the most recent was up to the US $ 60 billion worth of goods Goods most affected are intermediate goods and means of production, while consumer goods only account for a small proportion of about 7% In particular, computers, electronic products and components (valued at 3.7 billion USD); phones of all kinds and components (valued at 2.1 billion USD), fresh vegetables and fruits (worth 1.4 billion 11 USD) are the top export items of Vietnam to China in the first months 2018, according to data from the General Department of Customs Especially now, the country is increasingly interested in Vietnam's agricultural and aquatic products, so Vietnam has an opportunity to boost exports of this group to the Chinese market, according to the 2017 Export-Import Report of the Ministry of Industry and Trade Figure Item structure Import from China in the US tax package US $50 billion worth of goods since 2018 Source: Peterson Institute for International Economic Research 1.00% 25.00% 50.00% 24.00% Consumer goods intermediary goods production materials another goods Figure Item structure Import from China in the US tax package US $200 billion worth of goods in September 2018 Source: Peterson Institute for International Economic Research 12 3.1.2 Encourage FDI into Vietnam Besides increasing exports, attracting foreign direct investment (FDI) is also an opportunity and a trend to shift investment from China to Southeast Asian countries, including Vietnam, due to the increase in cost and risk when doing business in China Currently, some US businesses investing in China also tend to shift production to other countries and Vietnam, such as Procon Pacific, which previously manufactured all products in China, now produce 25% in India and 5-10% in Vietnam The US-China trade tensions could also be an opportunity for Vietnam to attract more investment from the US and be a push for this shift to happen faster With geographic location near China, cheap labor costs, stable political and economic situation, besides the advantages of the US-Vietnam Bilateral Trade Agreement (BTA), 13 trade agreements Free trade agreements (FTAs) have been signed and newgeneration free trade agreements are awaiting ratification such as Vietnam-EU Trade Agreement (EVFTA), Vietnam becomes an attractive destination for multinational companies after trade tensions Major global manufacturers such as Intel, Foxconn, LG, and Samsung have all moved their factories to Vietnam, according to an analysis by The Economist Magazine (EIU) At the same time, Chinese companies are also transferring orders to produce goods affected by the higher tax rates to partners in Vietnam Some Chinese manufacturers may increase their investment in Vietnam or cooperate with companies in Vietnam to fulfill orders for their partners in the US market According to a survey of Chinese manufacturers conducted by Standard Chartered Bank in June 2018, Chinese manufacturing companies said they wanted to relocate their factories to Vietnam more With the trade war between the US and China, companies have another reason to shift production to Vietnam, which is to avoid US punitive taxes 13 3.2 Negative impacts 3.2.1 Trade diversion a) Competition in the domestic market It is undeniable that China's imposed tariffs by the US made a considerably negative impact on Vietnam domestic market Causing great competitive pressure on domestic goods: When the US imposes taxes; China may have devaluation policies, pushing goods to surround countries, including Vietnam As a result, this leads to reduce China’s dependence on the US and maintain export turnover Specifically, Chinese goods which have the advantage of affordable price, appearance with eye-catching designs will find their way into other markets, most easily by countries sharing the same border as Vietnam According to data from the General Department of Customs: industrial machinery and products are one of the main import items of Vietnam from China while the recent trade policy of the US Government is aimed at the manufacturing industry As a result, China's industrial products are likely to flow into the Vietnamese market and create the risk of Vietnam's further trade deficit from China after this trade war Not only that, if the trade war with the US lasts, Chinese enterprises shifting production to Vietnam will compete directly with Vietnamese enterprises in purchasing raw materials, labor as well as taking advantage of preferential treatment of goods origin in free trade agreements which Vietnam has signed and will sign Besides, US goods that are taxed by China are also likely to flood into the Vietnam market An example is an American pork With China imposing an additional tax of 25%, the tax on US pork exports to China has risen to 71%, and with such a high tax, it is difficult for US pork to gain market share in China and Vietnam become an attractive alternative to these products Thus, the price of pork in Vietnam is currently around 48,000 to 50,000 VND / kg, one of the highest in the world, while the price of US pork imported into Vietnam is just over 1.5 USD / kg, equivalent to only about 14 35,000 VND / kg Therefore, US pork will have a great comparative advantage in the domestic market of Vietnam (Source: Zing New) b) Competition in the foreign market When goods from the US and China are subject to tariffs from the other party, it will lead to the flow of goods from these two countries to other countries, leading to the risk that Vietnam's goods face the risk of market decline share in some markets around the world and the region If Vietnamese exporters not change the quality and design of products, they will not be able to maintain long-term relations with export partners If export contracts are not reduced, the risk of businesses shrinking, leading to bankruptcy, unemployment will increase c) Competition in the US and China market US-China trade war also creates the risk of reducing the market share of exports to the US market and China market This difficulty is not only for Vietnam but for all countries in the world Competition in the US market Enterprises in the US have implemented a solution to increase domestic product consumption because US goods, which imported into China, are highly taxed Therefore, It is difficult for the exported commodity from China to compete in this market While the largest export market of Vietnam in the US, so we can’t be subjective with these effects Competition in the China market The trade war between the US and China has caused some adversities for Vietnam to export commodities, especially, electronic components and devices to China According to data from the General Department of Customs, in the first months of 2018, China was Vietnam's third-largest export market after the US and EU One of Vietnam's important exports to China is the electronic components that China uses to produce exports to the United States When products are highly taxed, demand 15 for Chinese products falls, Vietnam will also be affected Because Chinese production stalled also affect demand for imported raw materials from Vietnam 3.2.2 The risk of commercial fraud due to investment diversion Vietnam faces the risk of becoming transshipment point of Chinese goods in the form of temporary import for re-export or fake production This process is made through domestic enterprises or FDI companies If these goods are labeled as made in Vietnam to avoid taxes, these activities will be monitored by the US more closely or the US could even use tariff barriers on imported goods transiting through Vietnam Vietnam's major exports to the US are footwear, electronic, chemical and steel, etc These commodities often have some ingredients originating from China Taking the steel industry as an example, at the end of May 2019, several Vietnamese steel products, but originating from China, were investigated by the United States Consequently, the US decided to tax them up to 450% (including 199.76% of antidumping tax and 256.44% of countervailing duty) Another affected industry is the footwear industry Currently, the production capacity of the Vietnamese footwear industry is over billion pairs per year and it would take 10 years to double this capacity Meanwhile, China exports 1.7 billion pairs to the US If half of these Chinese shoes are sent to Vietnam for production, the Vietnamese footwear industry could not it Vietnam exports 460 million pairs of shoes per year, if the turnover surges sharply, the risk of the US applying the anti-dumping tax on the whole footwear industry is extremely high (Source: Doanh nhan Sai Gon) Once the US trade agency finds out any signal of trade fraud in the origin of goods exported to the US from Vietnam, Vietnamese companies shall be responsible for it Besides that, not only a specific industry but the entire industry will be affected It also affects the reputation of Vietnam, and put Vietnam into the US's sights, thereby leading to Vietnamese-made goods that will be tightly controlled and taxed higher by the US 16 400 350 Billion USD 300 250 200 150 100 50 China Mexico Japan Germany Vietnam Figure Top countries having the largest trade surplus with America in 2017 Source: USITC Data Website According to USITC data, Vietnam currently ranks fifth among the economies with the largest trade surplus with the United States with a value of US $ 38 billion in 2017, after China, Mexico, Japan, and Germany In 2017, the US trade deficit with Mexico was 71 billion USD, leading to the action of President Donald Trump withdrawing from NAFTA agreement and imposing steel and aluminum tax The European Union (EU) has also been hit by the US with aluminum (10%), steel (25%) and threatened to impose a 20% tax on cars Similarly, for Japan, the US not only withdraws from the TPP but also imposes duties on aluminum, steel, and car Vietnam's export is heavily dependent on developed countries including the US so if being "targeted" by the United States, the impact on Vietnam's economy will be much more negative than that of the EU, Mexico, Japan or China 3.2.3 Negative impacts on the environment and social security The relocation of Chinese-based production to Vietnam, though providing shortterm boosts in exports and foreign investment, also add to the risk for Vietnam to become a "polluting haven" The reason is that Chines companies will use the American-China trade war to accelerate the process of transferring outdated and pollution-generating technologies to Vietnam, causing environmental stress and damage 17 At the press conference on 28th September 2018, Nguyen Bich Lam, Director General of the General Statistics Office (GSO), explicitly expressed the concern that the "waves" of Chinese enterprises relocating to Vietnam could make the country a destination for outdated, pollution-generating, and small-scale industrial technologies coming from our giant neighbor Formosa is a good case in point Public fears were raised – expressed at the time in racial sentiments against ethnic Chinese – when mass fish die-offs took place in central Vietnam's coastal provinces in 2016 The disaster was caused by Taiwan-owned Formosa Ha Tinh Steel, which discharged toxic industrial waste into the ocean Besides that, a large number of Chinese businesses will likely go bankrupt, causing part of the workforce to lose their jobs Most of them are cheap and unskilled labors so they will need to move to border areas to make a living, which will cause social security concerns for Vietnam 18 4.1 SOLUTIONS For government Firstly, it is necessary to monitor and examine the ongoing situation to make detailed analyses and forecasts as well as draw up different coping strategies to deal with global economic fluctuations including trade policy and the exchange rate of China Secondly, there is an urgent need for the government to enhance the provision of information related to the US-China trade war which includes ensuring the full and timely awareness of all participants in the import and export value chain of the moves between two parties and the list of goods subject to punitive taxation to stabilize market sentiment The third solution is that the government should give businesses specific directions about the process of diversifying, approaching and expanding export markets, especially those with which Vietnam has signed an FTA Fourthly, there should be a mechanism to support businesses in investing in improving product quality so that they will be able to meet the requirements for quality, design, and price, from which can they avail themselves of the opportunities to participate in the US market in a sustainable way Fifth, it is suggested that Chinese goods that may enter the Vietnam market should be examined carefully Specifically, the import of goods from China into Vietnam at the border gates needs to be thoroughly controlled and there should be specific and strict criteria for certifying goods originating in Vietnam when exporting them to the US to prevent the risk of being subject to punitive tax from this country Additionally, the government should make sure of the continuous update of information as well as the early application of currently valid trade remedies in the event of widespread US-China trade tensions 19 Seventh, careful consideration and calculation are required before choosing the appropriate time to adjust the exchange rate because the devaluation of Vietnam dong may give an impulse to exports but will also lead to an increasing inflation rate and cost of importing raw materials for domestic production Finally, it is important for the government to continue improving administrative procedures, improving the investment environment and accelerating the restructuring process of Industry and Trade so as to foster economic restructuring, improving quality of growth, labor productivity and national competitiveness 4.2 For companies First of all, companies in Vietnam should keep track of the government's announcements about goods subject to punitive taxation from both the US and China so that they can proactively adjust production processes and seek for opportunities to diversify and boost the export of goods to these two big markets Secondly, activities of researching and forecasting a number of Chinese and American goods that are likely to be increasingly imported into the Vietnam market in the case of Chinese exports to the US and US exports to China are restricted should be encouraged in order to have time control measures and prompt response Furthermore, in order to stabilize and develop sustainable export to the Chinese market, it is inevitable for Vietnamese companies to actively cooperate with Chinese enterprises to formulate import-export plans and sign long-term import and export contracts Besides, the development of the distribution system in the Chinese market and the establishment of more joint venture companies with Chinese enterprises to enter the wholesale distribution channel should also be emphasized Last but not least, technical barriers from the US and China limiting Vietnamese goods from entering the markets should be anticipated in order to ensure adequate preparation and opportune countermeasures 20 CONCLUSION It can be concluded that the trade war between the US and China is still increasingly fierce and shows no sign of ending This has exerted significant impacts on the economies of both countries as well as other open economies in the world, and Vietnam is not an exception Many experts said that in the long run, Vietnam, an open economy whose scale is not large but the speed of expansion is very fast, is still likely to experience both positive and negative effects of the US-China trade war Minister of Industry and Trade Tran Tuan Anh once said: "Vietnam's economy is deeply integrated into the world economy, so it is naturally affected by global economic fluctuations" Overall, although the US-China trade war will bring Vietnam various benefits including opportunities to expand the economy, the risks and challenges from it are also enormous and unpredictable However, from an optimistic perspective, analysts believe that Vietnam can benefit if it attempts to take advantage of opportunities Specifically, the government of Vietnam needs to improve its managerial and guiding role Along with that, Vietnamese businesses also need to know how to take advantage of present opportunities, update global news and improve the quality of products to turn difficulties into opportunities for themselves 21 REFERENCES In English Chad P Bown, Euijin Jung, Zhiyao (Lucy) Lu (2018), “Trump and China Formalize Tariffs on $260 Billion of Imports and Look Ahead to Next Phase”, Peterson Institute for International Economics https://piie.com/blogs/tradeinvestment-policy-watch/trump-and-china-formalize-tariffs260-billion-imports-and-look, accessed 11/2019 “List 1”, United States Trade Representative https://ustr.gov/sites/default/files/ enforcement/301Investigations/List%201.pdf 9, accessed 11/2019 “List 2”, United States Trade Representative https://ustr.gov/sites/default/files/ enforcement/301Investigations/List%202.pdf 10, accessed 11/2019 Nate Fischler, “Trade war upsides abound for Vietnam”, Asia Times, 08/10/2018 http://www atimes.com/article/trade-war-upsides-abound-for-vietnam/, accessed 11/2019 “Tariff list – September 17, 2018”, United States Trade Representative https://ustr.gov/sites/default/ files/enforcement/301Investigations/Tariff%20List09.17.18.pdf , accessed 11/2019 The Economist Intelligence Unit “Creative disruption Asia’s winners in the USChina trade war”, 2018 https://pages.eiu.com/rs/753-RIQ 438/images/US_China_trade_war.pdf , accessed 11/2019 “The looming US-China trade war, explained”, Vox, 03/2018 https://www.vox.com/ world/2018/5/3/17270606/china-us-trade-war-tariffs-trump, accessed 11/2019 “Trump’s tariffs: When does a trade spat become an actual trade war?”, DW, 2018 https://www dw.com/en/trumps-tariffs-when-does-a-trade-spat-become-an-actual- trade-war/a-44423016, accessed 11/2019 In Vietnamese 22 Bo Cong thuong (2018), “Báo cáo xuất nhập Việt Nam 2017” http://moit.gov.vn/ documents/36315/0/bc+xnk+2017.pdf/894ffcf3-8663-4ee5-ab74635e330ebb06, accessed 11/2019 “Dệt may, da giày Việt Nam: Làm tránh thành “trạm trung chuyển” hàng Trung Quốc?”, Doanh nhan Sai Gon, 10/2018 https://doanhnhansaigon.vn/chuyen-lam-an/det-may-da-giay-viet-nam-lam-sao-tranhthanh-tram-trungchuyen-hang-trung-quoc-1088205.html, accessed 11/2019 Khai Huyen, “Nơng sản Việt “lo sốt vó” trước chiến thương mại TrungMỹ”, Dan Viet, 10/07/2018 http://danviet.vn/nha-nong/nong-san-viet-lo-sot-vo-truoc-cuoc-chien-thuong- mai- trung-my-893397.html, accessed 11/2019 Nicholas Chapman, Việt Nam chiến tranh thương mại Mỹ - Trung https://news.zing.vn/viet-nam-duoc-va-mat-gi-trong-chien-tranh-thuong-maimy-trung-post859684.html, accessed 12/11/2019 Phuong Dung, “Mỹ- Trung “khai hoả” chiến tranh thương mại: Việt Nam chịu tác động từ phía”, Dan tri, 2018 https://dantri.com.vn/kinh-doanh/my-trung-khai-hoa-chien-tranh-thuong-mai-viet-namchiu-tac-dong-tu-ca-2phia-20180707094702991.htm, accessed 11/2019 23 LIST MEMBERS OF GROUP No Full Name Student ID Responsibility Introduction; 3.2.2; 3.2.3; word 1; 4; conclusion 3.2.1; power point Abstract; 3.1 24 ... trade war The impacts of the US- China trade war on Vietnam The solutions to deal with the US- China trade war TERM AND DEFINITIONS A trade war is when a nation imposes tariffs or quotas on imports... 2019: China and the US agree to 13th round of trade talks 10 3.1 THE IMPACTS OF THE US- CHINA TRADE WAR ON VIETNAM Positive impacts 3.1.1 Encourage export from Vietnam The US- China trade war will... INTRODUCTION TERM AND DEFINITIONS BACKGROUND INFORMATION ON THE US- CHINA TRADE WAR 2.1 Causes of U.S Trade War with China .8 2.2 The US – China Trade War Major