Source: International Business Times
Zhang Chundong, manager at Huochacha New Energy Group, posing for a photo at his factory in Bac Ninh province AFP A year ago Zhang Chundong helped the firm he manages expand into Vietnam, part of a wave of Chinese businesses to choose the booming manufacturing hub since the trade war of US President Donald Trump's first term. Now the company -- a distributor of forklifts made by China's BYD -- is struggling to achieve the fast growth it expected as factory projects stall, and Vietnam waits to see if an enormous 46 percent tariff threatened by Trump this month will materialise. "Some factories that we received orders from are almost ready for operation, but since the tariff news, we got notice that projects and the purchasing of our forklifts are on hold," said Zhang, manager at Huochacha New Energy Group, whose clients in Vietnam include Chinese electronics company TCL.
