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China criticises Donald Trump’s trade deal with Vietnam

US president’s focus on punishing ‘trans-shipment’ of goods draws Beijing’s ire

Donald Trump, left, and China’s President Xi Jinping. Analysts warned that the Vietnam deal, as well as others that Beijing deems as endangering its interests, could undermine US-China trade talks © Kevin Lamarque/Reuters

Donald Trump, left, and China’s President Xi Jinping. Analysts warned that the Vietnam deal, as well as others that Beijing deems as endangering its interests, could undermine US-China trade talks © Kevin Lamarque/Reuters

China has hit out at the US-Vietnam trade deal, amid concerns in Beijing that the US president is using his “liberation day” tariff negotiations with third countries to curb its export machine.

The deal with Vietnam lowers tariffs on Hanoi’s exports from a threatened 46 per cent to 20 per cent, but retains a 40 per cent levy on “trans-shipping” of goods — widely believed to be aimed at Chinese re-exports to the US.

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Author: Joe Leahy and Nian Liu in Beijing and A. Anantha Lakshmi in Surakarta

Source: Financial Times

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