The New Phase of the U.S - China tariff Confrontation: Developments, impacts, and Implications for Vietnam

Abstract

The first months of 2025 marked a new phase of tension in the US-China economic
relations, following the trade confrontation initiated in the period 2018-2019. Under President
Donald Trump 2.0, a comprehensive tariff war was restarted, aiming to reshape the global trade
order. China's retaliatory responses have pushed the world's two largest economies into a strategic
confrontation. The article focuses on analyzing the US tariff measures and China's counteractions
in the first half of 2025, the objectives of both sides, the impact on the two countries' and global
economies, together with the challenges, opportunities and long-term policy implications for
Vietnam.