Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Citi: US-Vietnam Trade Deal Benefits TECHTRONIC IND
Recommend 12 Positive 11 Negative 6 |
||||
|
||||
|
According to CNBC, US President Donald Trump announced that the US and Vietnam have reached a trade agreement, under which the US will impose a 20% tariff on goods imported from Vietnam and a 40% tariff on re-exported goods, Citi wrote in its report. Citi believes this agreement is broadly in line with market expectations. Previously, Trump had proposed a 46% reciprocal tariff on Vietnamese imports. In contrast, the US enjoys tariff-free access to the Vietnamese market. The broker estimated that the US might as well soon finalize tariff agreements with other ASEAN countries like Cambodia and Indonesia. The report also mentioned that this news would be most beneficial to TECHTRONIC IND (00669.HK) as 65% of its revenue comes from the US, and nearly half of this year's US sales products are manufactured in Vietnam. Citi reiterated a Buy rating on TECHTRONIC IND, SHENZHOU INTL (02313.HK), STELLA HOLDINGS (01836.HK), and CRYSTAL INTL (02232.HK), and a Sell rating on CHERVON (02285.HK). AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
