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Yahoo
29 minutes ago
- Yahoo
Trump's Vietnam Deal Shows China Tariffs Won't Fall Much Further
(Bloomberg) -- President Donald Trump's new trade deal with Vietnam sends a clear signal about where US tariffs on Chinese goods might ultimately land, as talks between Washington and Beijing continue following their recent truce. NYC Commutes Resume After Midtown Bus Terminal Crash Chaos Struggling Downtowns Are Looking to Lure New Crowds Massachusetts to Follow NYC in Making Landlords Pay Broker Fees Foreign Buyers Swoop on Cape Town Homes, Pricing Out Locals What Gothenburg Got Out of Congestion Pricing Chinese goods currently face tariffs of around 55%, a level expected to remain through August. But under the latest Vietnam agreement, the US will slap a 20% tariff on Vietnamese exports to the US and a steeper 40% levy on goods deemed to be transshipped — the latter targeting a well-worn backdoor used by Chinese exporters since the first China-US trade war to dodge American tariffs. By closing the loopholes, the Trump administration is signaling what any future deal with China might look like. The 40% tariff on transshipped goods suggests that even if tariffs on China are eventually reduced, they're unlikely to fall significantly below that threshold. 'The 40% figure in the Vietnam deal might reflect a broader conviction in the Trump administration about the appropriate tariff level on China, which would be similarly reflected in other bilateral deals,' said Gabriel Wildau, a managing director at Teneo focused on political risk analysis in China. 'However, I am skeptical that Trump has a specific red line for minimum tariffs on China.' Beijing and Washington reached a trade framework last month following talks in London, which remains in effect through mid-August. As part of the deal, China agreed to resume shipments of rare earths — key inputs for wind turbines, electric vehicles and military hardware. In return, the US offered to ease some export restrictions on ethane, chip-design software and jet engine components. US tariffs on Chinese goods have been cut back to around 55%, down from as high as 145% in early April. But 20% tariffs tied to fentanyl remain in place. Beijing has since tightened controls on two precursor chemicals used to make the drug — one of the few obvious avenues it has to win further tariff relief. 'The 20% is really the focal point where all the attention is centered right now,' said Christopher Beddor, deputy China research director at Gavekal Research. 'The thinking is that the Chinese government is very willing to do a deal on something related to fentanyl. They've been telegraphing that months.' Still, those efforts are unlikely to bring Chinese tariffs below the 40% rate now applied to Vietnam. If China's duties were to fall to 35%, for instance, it would restore a competitive edge to China and encourage firms to shift operations back, running counter to the Trump administration's broader objectives. 'If China ends up with a lower tariff level than Vietnam that would certainly shift the competitiveness calculations somewhat, but keep in mind that moving production facilities is not as easy as flipping a light switch on and off,' said Stephen Olson, a former US trade negotiator now with the ISEAS-Yusof Ishak Institute. 'From the perspective of Chinese companies, there is zero confidence that once Trump sets a tariff level that it will remain at that level.' For now, here are signs both sides are following through on the terms of the London agreement and displaying signs of goodwill. The Trump administration has lifted recent export license requirements for chip design software sales in China, and approved US ethane exports to China without additional approvals. Treasury Secretary Scott Bessent said Chinese rare earth magnets are flowing, although they haven't yet bounced back to the levels seen before Chinese imposed export curbs in early April. The US remains hopeful that China will further ease restrictions on those exports after their London deal, he said in an interview Tuesday on Fox News. Meanwhile, a senior Chinese official on Thursday delivered one of Beijing's most positive messages about his nation's ties with the US in weeks. Liu Jianchao, head of the Communist Party's International Department, said at the World Peace Forum that he was 'optimistic' about future relations. 'China is keenly aware of what it's gained from China-US cooperation,' Liu said 'Our cooperation is mutually beneficial. The act of putting up barriers will hurt the other and ourselves as well.' Other Negotiations Apart from Vietnam, Beijing is growing increasingly cautious about US efforts to strike trade deals that could isolate China. With a July 9 deadline approaching, when Trump's higher 'reciprocal' tariffs are set to take effect, American officials are ramping up negotiations with key partners in Asia and Europe. Washington is pushing for new deals that would include limits on how much Chinese components in goods can be used in exports for the US, or commitments to counter what the US views as unfair Chinese trade practices. India, another nation racing to complete a deal, has been negotiating over 'rules of origin.' What Bloomberg Economics says... 'The looming question now is how China will respond. Beijing has made clear that it would respond to deals that came at the expense of Chinese interests and the decision to agree to a higher tariff on goods deemed to be 'transshipped' through Vietnam may fall in that category. Given China's position as Vietnam's largest trading partner and key source of inputs for domestic production, any retaliatory steps could have an outsized impact on Vietnam's economy.' — Rana Sajedi and Adam Farrar. Click here to read the full report. Beijing on Thursday said it's taken note of the US-Vietnam trade deal and is currently assessing the situation. 'We're happy to see all parties resolve trade conflicts with the US through equal negotiations, but firmly oppose any party striking a deal at the expense of China's interests,' He Yongqian, a spokesperson for the Ministry of Commerce, said at a briefing. 'If such a situation arises, China will firmly strike back to protect its own legitimate rights and interests,' she added, repeating a familiar warning. Olson cautioned against relying too much on the US-Vietnam trade agreement as a blueprint for assessing Washington's approach to China. The stakes in US-China negotiations are significantly higher, shaped by strategic rivalry and a wider set of geopolitical considerations. There is also much less of a power discrepancy in the US-China discussions. 'One important takeaway for China from both the Vietnam deal and the previous deal with the UK is that the US intends to use these negotiations to apply pressure on China,' Olson said. 'This could lead China to a much more sober assessment of what it might be possible to achieve with the US in these negotiations.' --With assistance from Jacob Gu. (Updates with additional comments from ninth paragraph) SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too America's Top Consumer-Sentiment Economist Is Worried How to Steal a House China's Homegrown Jewelry Superstar Sperm Freezing Is a New Hot Market for Startups ©2025 Bloomberg L.P. 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Forbes
30 minutes ago
- Forbes
AI Skill Stacks: How Teens Can Future-Proof Their Careers Today
skill stacking helps teen prepare for AI economy Pick a major. Get a degree. Find a job. That roadmap guided generations to middle-class stability, but it's crumbling for today's teenagers. Their parents climbed predictable career ladders in industries that existed for decades. Today's teens will work in fields that don't yet have names, using tools that haven't been invented, solving problems we can't imagine. Consider this: Artificial intelligence now writes code, diagnoses diseases, and creates art. Meanwhile, entirely new roles emerge monthly, such as prompt engineers, AI ethicists, and virtual reality architects. Universities can't build curricula fast enough to keep pace. The answer isn't more credentials. It's skill stacking—intentionally combining abilities that amplify each other's value. A teenager who codes, designs graphics, and leads student government isn't just well-rounded. They're positioning themselves for careers in user experience, tech policy, or digital product management—fields that reward exactly this combination of technical skill, visual thinking, and leadership ability. The best part? Teens don't need to wait for college or permission to start. They can begin building their stack today, using the time and freedom they have right now to experiment, fail, and discover what combination of skills makes them uniquely valuable. What Is a Skill Stack In An AI World? A skill stack is your toolkit of abilities that, when combined, create value beyond the sum of its parts. Unlike deep specialization in a single field, a stack leverages both breadth and depth. Consider a teenager who learns basic Python coding, develops an eye for graphic design, and builds strong communication skills through the debate club. On their own, each skill is valuable—but together, they open doors to careers in user experience research, product design, or tech-driven marketing roles. In the age of AI, humans maintain an edge when they bring together technical, creative, and social skills. According to the World Economic Forum, skills such as creativity, critical thinking, and resilience are among the top 10 skills that employers will prioritize by 2025. Machines can analyze data, but they can't design innovative solutions that also resonate emotionally. They can process language, but they can't truly persuade, lead, or create culture. Why Teens Can Build AI-Ready Skills Now Teenagers are actually at the perfect stage to embrace this way of thinking. They're in a low-stakes environment where it's okay to experiment and fail. Free or low-cost learning resources are widely available to them. Many already have informal skill stacks developing through their hobbies, part-time jobs, or extracurricular activities. For example, a teenager who streams video games (technical literacy and audience engagement), edits highlight reels for social media (creativity and digital tools), and manages a Discord community (leadership and communication) is already developing skills without realizing it. What they need now is intention—to see how their interests and efforts fit into a broader strategy for their future. The 5 Key AI-Era Skill Categories At the very least, teens need to become fluent in the language and logic of technology. This doesn't mean everyone must become a programmer, but it does mean that everyone should understand the basics of how AI, algorithms, and data systems work. Ways to build this skill: As technology raises new dilemmas about privacy, fairness, and bias, those who can think critically and ethically will stand out. This is about asking good questions, analyzing consequences, and resisting easy answers. Ways to build this skill: Regardless of how advanced AI becomes, humans will continue to value clear, persuasive, and empathetic communicators. Writing, public speaking, and interpersonal skills are essential for success. Ways to build this skill: AI can replicate patterns, but humans create the patterns. Creativity—whether in art, design, storytelling, or problem-solving—is a uniquely human strength. Ways to build this skill: Even if they never start a business, teens benefit from thinking like an entrepreneur—spotting opportunities, taking initiative, and building something from nothing. Programs that teach entrepreneurial thinking help develop skills that can be applied to any career path. Ways to build this skill: How Teens Can Start Building AI-Ready Skills Today Getting started doesn't have to be overwhelming. Here are practical steps teens can take right now: Take one free online course this summer. Platforms like Coursera, edX, and Khan Academy have thousands of options. Start a project. Launch a blog, start a YouTube channel, or organize a community clean-up. Join a club or group. Whether it's coding, business, robotics, or the arts, being around others also builds collaboration skills. Find a mentor. Reach out to professionals or older students for advice and guidance. Reflect regularly. Keep a journal or portfolio of what you're learning and how your stack is growing. What Parents & Educators Can Do To Support AI-Ready Learning Parents and teachers play a critical role in fostering this mindset. Instead of pushing teens toward a single "safe" path, they can: At WIT (Whatever It Takes), the organization I founded in 2009, we've seen how early exposure to skill stacking through entrepreneurship education transforms young people's confidence and capabilities. Our graduates don't just start businesses—they become problem solvers who can adapt to whatever challenges they encounter. The AI Economy Belongs To Stack Builders The AI-driven future belongs to those who can adapt, recombine, and apply their skills in creative ways. For teens, the earlier they start stacking, the higher they can climb. In an AI-dominated economy, it's no longer enough to specialize narrowly and hope your role doesn't get automated. What makes you indispensable is your ability to bring together technical fluency, critical thought, creativity, communication, and entrepreneurial grit—skills that complement rather than compete with artificial intelligence. The good news? Teens already have everything they need to start stacking. All it takes is intention, action, and the willingness to keep learning in a world where AI amplifies human potential rather than replacing it.
Yahoo
41 minutes ago
- Yahoo
How Crypto's Most Boring Token Became the U.S. Treasury's $200 Billion Lifeline – And Why It Could Hit $2 Trillion
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Major banks are scrambling to launch stablecoins as digital tokens emerge as an unexpected lifeline for U.S. Treasury markets The crypto world's most boring investment might just become Wall Street's most important player. Stablecoins—digital tokens pegged to the dollar—are quietly positioning themselves as a crucial buyer of U.S. government debt, potentially absorbing hundreds of billions in Treasury securities over the next decade. Stablecoins now account for roughly $200 billion in Treasury and repo market investments—about 80% of the $256 billion stablecoin market, according to Reuters. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . At last week's Money Fund Symposium in Boston, State Street Global Advisors CEO Yie-Hsin Hung highlighted the growing influence of stablecoins across traditional financial markets.' 'But here's the kicker,' Hung noted. 'Stablecoins are growing fast, and most likely, will outpace the growth of Treasury supply.' The mechanics are surprisingly straightforward. When Circle, the company behind USDC stablecoin, sees demand for its tokens increase by $10 billion, it must purchase $10 billion in Treasuries to maintain the crucial 1:1 peg to the dollar. It's a simple equation that's creating a powerful feedback loop. This timing couldn't be better for the U.S. Treasury. With expectations of up to $1 trillion in new government debt issuance by year-end, participants are desperately searching for reliable buyers. Enter stablecoins: a growing class of investors that must buy Treasuries by design, not choice. 'If they do indeed squeeze this supply balloon on Treasuries and rely on the front end of the curve for debt issuance, we think that one of the justifications is that all this demand coming from stablecoins gives Treasury Secretary Scott Bessent cover to make that shift to the shorter end,' explained Mark Cabana, head of U.S. rates strategy at BofA Securities. Trending: New to crypto? on Coinbase. The demand from traditional finance is reaching fever pitch. Adam Ackermann, head of portfolio management at Paxos, said he's fielding calls from the world's largest banks with an urgent message: 'I need a stablecoin in eight weeks. How can we get one?' This corporate rush intensified after the U.S. Senate passed the GENIUS Act recently—landmark legislation creating a regulatory framework for stablecoins. While the Republican-controlled House still needs to pass its version before reaching President Doanld Trump's desk, the bill's advancement has unleashed pent-up institutional demand. Standard Chartered estimates the stablecoin market could explode from today's $256 billion to $2 trillion by 2028 if the legislation becomes law. That would represent roughly $1.6 trillion in additional Treasury demand—a massive injection into government debt markets. But not everyone is celebrating this digital gold rush. Ackermann, despite being in the business of issuing stablecoins, is sounding a cautionary note: 'What's somewhat concerning is we're just at this fever pitch right now. It's great for the industry, but we need to start to put some guardrails on things.' His concern reflects broader questions about what happens when crypto markets experience their inevitable volatility. If stablecoin demand suddenly contracts, will Treasury markets face an equally dramatic reduction in buying pressure? There's also the concentration risk. Currently, just two companies—Circle and Tether—dominate the stablecoin landscape. A regulatory crackdown or operational issue at either could ripple through Treasury markets in unpredictable investors, this trend presents both opportunities and considerations: Treasury Impact: Increased stablecoin demand could provide a floor for short-term Treasury prices, potentially benefiting money market funds and short-duration bond strategies. Crypto Correlation: The deeper integration between stablecoins and Treasury markets could create new transmission channels between crypto volatility and traditional fixed income. Regulatory Risk: The entire thesis depends on favorable regulation. Any setbacks to stablecoin legislation could dramatically alter the demand dynamics. Long-term Sustainability: While $200 billion represents less than 2% of the overall Treasury market today, BofA's Cabana expects stablecoins to become 'an incremental demand source over the next three to five, certainly 10 years.' The convergence of crypto innovation and traditional finance is creating unexpected solutions to age-old problems. Stablecoins may have started as a niche crypto product, but they're evolving into a critical piece of U.S. debt market infrastructure. Whether this represents a sustainable solution or a new source of systemic risk remains to be seen. What's certain is that the boring world of government debt just got a lot more interesting—and potentially a lot more volatile. Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — Image: Shutterstock This article How Crypto's Most Boring Token Became the U.S. Treasury's $200 Billion Lifeline – And Why It Could Hit $2 Trillion originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
