The ongoing US-China trade war will greatly impact on the structure of the world economy in the future, causing damage but also generating indirect opportunities for countries where the economy relies heavily on agricultural production like Vietnam.

China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.

China has reacted strongly to the United States' announcement of new tariffs on US$200 billion (S$272 billion) of Chinese goods, calling it "totally unacceptable" and "typical bullying", and warning that Beijing will take counter-measures.

The United States said on Wednesday that it signed an agreement with ZTE Corp that paves the way for the Chinese tech company to resume operations after a nearly three-month ban on doing business with American suppliers.

Most US businesses operating in China oppose the use of tariffs in retaliation for the challenges they face, from an uneven playing field to poor protection of intellectual property rights, a survey showed on Thursday

U.S. officials are visiting Mexico Friday, adding to speculation that the Trump administration may be looking for a victory on another trade front while tensions escalate with China.

Duties imposed on these commodities are important inputs for various streams like animal feed and plastic processing industries.

The ongoing US-China trade war will greatly impact the structure of the world economy in the future, causing damage but also generating indirect opportunities for countries where the economy relies heavily on agricultural production like Việt Nam.

Turkey could gain an advantage from the trade wars between the U.S. and China by increasing exports to these countries and expanding into alternative markets

The US and China are two important trade partners of Vietnam. Any interruption in exports will have a big impact on the national economy.