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'Made in Vietnam' Goods Increasingly Popular in US

VOA News

   "Made in Vietnam" cell phones, lounge chairs and clothing have become
   more popular with Americans than ever before. U.S. imports from the
   Southeast Asian nation have increased to record levels, showing the two
   sides increasingly interlinked, despite U.S. President Donald Trump's
   taking a tougher line on commerce with Vietnam.
   The United States increased its imports from Vietnam by 36% last year
   for a total value of $67 billion, which is the highest increase in a
   single year since 2003, according to statistics from the U.S. Census
   Bureau.
   The increase shows Vietnam is making a "massive reorientation" in trade
   toward the U.S., according to Michael Ryan, the economics director at
   IHS Markit Economics, an investment research firm.
   Businesses have moved to Vietnam in order to depend less on neighboring
   China, where it has become more expensive or harder to do business
   because of multiple reasons: the trade war with the U.S., the
   coronavirus pandemic, and the higher costs.
   "The United States has become far and away the most important driver of
   Vietnam's export engine, accounting for two-thirds of Vietnam's total
   export growth in 2019," Ryan said.
   Vietnam is a key source of electronics, furniture, clothing, footwear,
   and fish for Americans. It also is a key global exporter of coffee,
   rice, and other food.
   After the U.S. government asked it to buy more American goods, Vietnam
   announced this month it would buy $3 billion worth of farm goods, from
   soy animal feed to barley, in addition to previous announcements of
   buying U.S. airplanes.

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