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Vietnam risks being the trade war’s biggest loser. Does it have a plan B?

The south-east Asian country benefited hugely from US-China tensions, but the Trump tariffs strike at the heart of its economy

The election of Donald Trump in 2016 was a watershed moment for Bao Phung.

His family’s business A&M Flooring, a Vietnamese producer of premium wooden flooring, had initially struggled to compete against Chinese businesses when it was founded the year before.

But after Trump came to power and unleashed a trade war on China, Bao saw A&M’s business flourish as American buyers rushed to source products from elsewhere.

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