Vietnam, which has benefited from a shift of supply chains from China due to US tariffs, may face challenges with potential trade restrictions under US President-elect Donald Trump, while the growth of its low value-added export model is slowing due to a diminishing supply of young workers. On the other hand, despite lagging behind in critical artificial intelligence infrastructure and dealing with insufficient electricity supply for factories, Vietnam's outlook for 2025 should remain positive if it can avoid tariff impediments and raise productivity, for example by strengthening the private sector and embracing new technology.

China’s push to shift its food import sources since 2018 has put it in a better position to impose tit-for-tat tariffs on US farm goods with less harm to its food security if trade friction with Washington flares after the US presidential election.

Chinese Commerce Minister Wang Wentao and his US counterpart will hold a call in the near future on trade and economic ties, China's state-run Xinhua news agency reported on Tuesday, citing people familiar with the matter.

The United States and China are the two global economic heavyweights.

On October 21, China imposed restrictions on the export of graphite used to make electric car batteries. China has retaliated to another round of US curbs on sharing semiconductor manufacturing technology and software with Beijing.

The recent decision by the United States government to grant permission for Samsung Electronics and SK Hynix, both based in South Korea, to acquire advanced manufacturing equipment for their semiconductor plants in mainland China is anticipated to pose challenges for domestic memory chip manufacturers in China, such as Yangtze Memory Technologies Co. (YMTC).

Action on unfair practices is essential to stop the auto industry suffering like steel, aluminium and solar.

The United States wants to lessen its reliance on China when it comes to electric vehicle (EV) production. A proposed $7,500 tax credit set to kick in come 2024 is held by most to be the key to increasing EV sales stateside. Yet, US law dictates the credit cannot be used to purchase cars with battery components that come from a “foreign entity of concern.” The interpretation of that phrase will likely dictate the future of the US EV rollout.

This could enable China to bridge the technological gap that the US is determined to maintain, and position China as a world leader in chip production.

Gina Raimondo, the commerce secretary, emphasized U.S. concerns over harsh treatment of foreign companies and national security issues in a meeting with top officials in Beijing.