You jest, but Vietnam and Cambodia have proven to be MASSIVELY important manufacturing countries for US companies since the Section 301 Tariffs on Chinese goods were enacted (Trump's 1st term)
They saw massive investment in wake of the "get out of China" message (25% / 7.5% tariffs)
Thanks. Not purely manufacturing data, but i will work with it. Waiting for the Cambodia data.
In the meantime, the US exports circa $13Bn to Vietnam. So, Vietnam dropping import tarrifs on ~10% of what the US imports from Vietnam is no big win for US IMPORTERS and ultimately consumers.
They would soften tarriffs on Vietnam and Cambodia at the behest of U.S multinationals who are bugging out about across the board tarriffs, having relocated manufacturing there from China during covid. Pay to play carveouts.
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They saw massive investment in wake of the "get out of China" message (25% / 7.5% tariffs)
* $118B of goods from VN
* $12.2B of goods from KH
per OEC trade data
https://oec.world/en/profile/country/usa?yearlyTradeFlowSelector=flow1
$.50 in labor, maybe, but they aren't making triple digit margins on shoes, regardless of the factory's location
In the meantime, the US exports circa $13Bn to Vietnam. So, Vietnam dropping import tarrifs on ~10% of what the US imports from Vietnam is no big win for US IMPORTERS and ultimately consumers.
Rising labor cost and risk of IP loss drove much of that early, with tariffs making the decision whether to relocate easier
basically tariff accelerated wage arbitrage
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