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Making sense of President Donald Trump’s steel tariff proposal

The Vietnamese government has expressed concern over Trump’s plans, although they are unlikely to have a major direct impact on Vietnam’s economy. The US accounts for 11.1% of Vietnam’s steel exports, but steel accounts for less than 2% of Vietnam’s total export portfolio.

USD tended to plunge as US announced to impose high duties on steel and aluminium

It is feared that the escalating trend of trade protectionism will hinder global growth and make many businesses struggle for survival.

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