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Stocks In Vietnam Slide Most In Three Months After Trump Calls Country ‘Single Worst Abuser Of Everybody’
"Do you wanna tariff Vietnam?", a visibly incredulous Maria Bartiromo asked, interrupting Donald Trump during his breathless Wednesday call-in interview.
There was an extended pause.
Then, back came the voice on the other end of the line. "Well, we're in discussions with Vietnam. Vietnam is almost - well, it's much smaller than China - much - but it's almost the single worst abuser of everybody", Trump declared.
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The Administration wants to bring manufacturing back to the US, which means restrictions on global trade to force the dismantling of global supply chains. “Success” will mean large increases in costs and prices, higher inflation, lower consumer demand, and lower profits. The beneficiaries will be Americans who want to work long hours doing repetitive low-skill work at low (by US standards) wages – which is not a large population. At the same time, the Administration wants to close down the labor supply through immigration. I’m getting the feeling that the “solution” is going to involve prison labor . . .