U.S. President Donald Trump abruptly reversed course on the steep “reciprocal tariffs” that recently rattled global markets, announcing a 90-day pause on the additional country- and region-specific levies just 13 hours after they were imposed on April 9.
While maintaining a blanket 10% tariff on imports from nearly all U.S. trading partners, Trump notably excluded China from the temporary pause. Beijing swiftly retaliated by raising tariffs on U.S. imports, prompting Trump to escalate the dispute further by again raising duties on Chinese goods. Meanwhile, the rest of the world was granted a brief reprieve to deal with Trump’s tariff policy.
Samsung smartphones are made in Vietnam. Apple has moved production of iPads, MacBooks, AirPods, and Apple Watches to the country, while other big names like Foxconn, Nintendo, Lenovo, Luxshare, Goertek, and Pegatron have opened new factories.
The Bac Ninh province near Hanoi — which houses Samsung’s factory — and the neighboring Bac Giang province have become magnets for electronics manufacturers looking to reduce their dependence on China. The influx of Chinese tech manufacturers has led to the rise of a new “Chinatown” in Bac Ninh, creating business opportunities for restaurateurs, real estate brokers, logistics operators, and convenience stores.
Many Vietnamese residents, excited by new and diverse job opportunities, are learning Mandarin.
