Vietnam has so far emerged as the biggest winner of the US-China trade war, as tariffs on goods from China have led US importers to switch suppliers. Vietnam’s exports to the US have doubled since the start of 2018. However, the surge in Vietnam’s exports is now leading to tensions with the US. Last week, the US Trade Representative (USTR) announced it was opening an investigation into possible currency manipulation by Vietnam. If Vietnam is found guilty it could lead to tariffs being imposed on its exports to the US. This would potentially have a major negative impact on the country’s growth prospects.
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