Vietnam's $134 billion American surplus is built on Chinese parts
Vietnam set records on both sides of its ledger in 2025: the largest surplus any country but China runs with America, and record imports from China of $186 billion. A 20% tariff, a 40% transshipment clause, and one Korean company worth 13% of GDP later, the balancing act is the economy.
Aug 15, 2026 · 7 min read