| If you thought calmer heads would prevail after last week’s stockmarket sell-offs, sorry: Monday has brought no respite. Donald Trump has inflicted carnage in markets around the world with his tariffs announcement. America may be causing the greatest harm to itself, but everyone else is suffering too.
One such country is Vietnam. Many investors, including American ones, have been diversifying away from China by building factories in its southern neighbour. It has been a great success. Now the country’s growth could be slashed in half by a trade war. | 
