{"id":78656,"date":"2024-05-20T00:00:00","date_gmt":"2024-05-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/20\/us-imports-from-chinese-reliant-vietnam-hike-amidst-tariffs-war\/"},"modified":"2024-05-20T00:00:00","modified_gmt":"2024-05-20T00:00:00","slug":"us-imports-from-chinese-reliant-vietnam-hike-amidst-tariffs-war","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/20\/us-imports-from-chinese-reliant-vietnam-hike-amidst-tariffs-war\/","title":{"rendered":"US imports from Chinese-reliant Vietnam hike amidst tariffs war"},"content":{"rendered":"

I<\/strong>s China indirectly exporting to the US? <\/font><\/strong>The US has boosted imports from Vietnam to make up for reduced trade from China but the country is heavily reliant on Chinese inputs for much of its exports, Reuters<\/a> reported on Thursday, citing data confirmed by the World Bank and supply chain experts. Chinese exports to Vietnam now match almost exactly China\u2019s exports to the US in terms of value over the past few years. \u201cThe surge in Chinese imports in Vietnam coinciding with the increase in Vietnamese exports to the US may be seen by the US as Chinese firms using Vietnam to skirt the additional tariffs imposed on their goods,\u201d lead economist at BMI Darren Tay told the newswire.<\/p>\n

REMEMBER- The US <\/strong>went on the offensive<\/a><\/strong> in the trade war with China last week <\/strong>announcing a raft of tariff increases on USD 18 bn worth of Chinese imports that will each begin taking effect between 2024 and 2026. Biden has his eyes set on green tech, deciding that tariffs on Chinese EVs will quadruple to 100%, those on lithium-ion EV batteries to more than triple to 25%, those on solar cells to double to 50%. And he hasn\u2019t forgotten about semiconductors, as tariffs on chips from the world\u2019s second biggest economy are set to double to 50%.<\/p>\n

Ukraine <\/strong>launched 62 drones attacks into Russian regions forcing an oil refinery in the <\/strong>southern part of the country to shut down operations<\/strong>, Reuters<\/a> reports. Six drones reportedly crashed into the area where the oil refinery is located in Slavyansk. The attacks are the latest in a long string of incidents where each country has targeted the other\u2019s energy facilities. Russian missiles recently struck<\/a> power facilities in Ukraine, damaging four out of six thermal power plants that belonged to DTEK, Ukraine\u2019s largest privacy electricity firm. <\/p>\n

OTHER STORIES WORTH KNOWING THIS MORNING-<\/strong><\/p>\n