China warns against trade deals that harm third parties after US-Vietnam pact
Beijing, July 3 (UNI) China today expressed concerns over the recent trade agreement between the US and Vietnam, warning that trade deals should not target or harm the interests of third parties.
This statement comes after US President Donald Trump announced a trade deal with Vietnam, which includes a 20% tariff on Vietnamese exports to the US and a 40 per cent tariff on goods deemed to be transshipped through Vietnam.
The trade agreement, announced by Trump, aims to level the playing field for US businesses in Vietnam.
As per the deal, "20 pc tariff will be imposed on Vietnamese exports to the US, and 40 pc tariff on goods deemed to be transshipped through Vietnam."
The trade agreement will help provide Vietnam the US total access to its markets for trade, allowing US products to enter Vietnam at zero tariff.
China is upset as the deal would ensure 40% tariff on transshipping that aims to prevent goods from third countries, particularly China, from being exported to the US through Vietnam.
In a post on Truth Social, Trump said the deal would open Vietnamese markets to American goods without any tariffs. As part of the agreement, Vietnam has also pledged to impose a 40% tariff on products that originate in other countries but are routed through Vietnam before being exported to the U.S.
Earlier, Trump had imposed a hefty 46% tariff on Vietnam, which would have impacted the supply chain of various products.
"China always believes that trade disputes should be resolved through equal consultation, and relevant negotiations and treaties should not target or harm the interests of any third party," Chinese FM spokeswoman Mao Ning said after a new trade deal between the US and Vietnam was reached, which will place a 40 percent tariff on goods deemed to be transshipped through the country
The US-Vietnam trade deal has sparked concerns about its potential impact on global trade.
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