Vietnam’s real trade test lies beyond Trump’s tariffs
Published . Updated .
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As US President Donald Trump heads to Manila for the ASEAN Summit, then on to Shenzhen to meet Chinese leader Xi Jinping at APEC, Southeast Asian
Directly affected
- No company is named in this report.
Indirectly affected
- XLI Industrial Select Sector SPDR+0.6% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- XRT SPDR S&P Retail ETF
SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- KWEB KraneShares CSI China Internet ETF-6.3% 30d
KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “chinese” (Chinese tech) in this story.
- SMH VanEck Semiconductor ETF-15.4% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “chinese” (semiconductors) in this story.
- FXI iShares China Large-Cap ETF-2.8% 30d
iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“chinese”).
- VNM VanEck Vietnam ETF-0.5% 30d
VanEck Vietnam ETF holds stocks listed in Vietnam, which this story is about (“vietnam”).
- CEW WisdomTree Emerging Currency Strategy Fund
WisdomTree Emerging Currency Strategy Fund holds emerging-market currencies, which move on news like this from China.
- CAT Caterpillar-28.4% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLI | +0.05% | +1.29% | base | after close | after close | after close | after close |
| XRT | +1.88% | +1.40% | base | after close | after close | after close | after close |
| KWEB | +5.97% | +3.23% | base | after close | after close | after close | after close |
| SMH | +0.14% | +4.23% | base | after close | after close | after close | after close |
| FXI | +3.46% | +1.27% | base | after close | after close | after close | after close |
| VNM | +1.06% | +1.42% | base | after close | after close | after close | after close |
| CEW | +0.00% | +0.00% | base | after close | after close | after close | after close |
| CAT | -0.24% | +0.24% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Vietnam’s real trade test lies beyond Trump’s tariffs Asia Times
Source: Asia Times
Price since this story was published: Select Sector Spdr Tr (XLI)
| Company | When | Move | Status |
|---|---|---|---|
| Caterpillar (CAT) | three days earlier | +0.24% | final price |
| Caterpillar (CAT) | five days earlier | -0.24% | final price |
| Wisdomtree Tr (CEW) | three days earlier | 0.00% | final price |
| Wisdomtree Tr (CEW) | five days earlier | 0.00% | final price |
| FXI | three days earlier | +1.27% | final price |
| FXI | five days earlier | +3.46% | final price |
| KWEB | three days earlier | +3.23% | final price |
| KWEB | five days earlier | +5.97% | final price |
| SMH | three days earlier | +4.23% | final price |
| SMH | five days earlier | +0.14% | final price |
| Vaneck Vectors Etf Tr Vietnam E (VNM) | three days earlier | +1.42% | final price |
| Vaneck Vectors Etf Tr Vietnam E (VNM) | five days earlier | +1.06% | final price |
| Select Sector Spdr Tr (XLI) | three days earlier | +1.29% | final price |
| Select Sector Spdr Tr (XLI) | five days earlier | +0.05% | final price |
| Spdr Series Trust (XRT) | three days earlier | +1.40% | final price |
| Spdr Series Trust (XRT) | five days earlier | +1.88% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 47 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a dependent child), worth $15,001 - $50,000 on 13 Oct 2026. That is 32 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Rohit Khanna sold Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 7 Oct 2026. That is 38 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 43 days before publication. Filed 27 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Nike (NKE), worth $15,001 - $50,000 on 28 Aug 2026. That is 78 days before publication. Filed 8 Oct 2026. View the filing.
- Rep. Gilbert Cisneros sold Nike (NKE), worth $15,001 - $50,000 on 27 Aug 2026. That is 79 days before publication. Filed 10 Sep 2026. View the filing.
- Donald J Trump, an executive branch official, sold Nike (NKE), worth $100,001 - $250,000 on 21 Aug 2026. That is 85 days before publication. Filed 8 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Select Sector Spdr Tr (XLI)
Companies carried with this story
- XLI Select Sector Spdr Tr
Select Sector Spdr Tr (XLI) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “Vietnam’s real trade test lies beyond Trump’s tariffs.” Reason on file: Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- XRT Spdr Series Trust
For “Vietnam’s real trade test lies beyond Trump’s tariffs,” Spdr Series Trust (XRT) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
- VNM Vaneck Vectors Etf Tr Vietnam E
In “Vietnam’s real trade test lies beyond Trump’s tariffs,” Vaneck Vectors Etf Tr Vietnam E (VNM) is linked, with no stored direction, medium confidence. Reason on file: VanEck Vietnam ETF holds stocks listed in Vietnam, which this story is about (“vietnam”)
- CEW Wisdomtree Tr
In “Vietnam’s real trade test lies beyond Trump’s tariffs,” Wisdomtree Tr (CEW) is linked, with no stored direction, medium confidence. Reason on file: WisdomTree Emerging Currency Strategy Fund holds emerging-market currencies, which move on news like this from Vietnam
- CAT Caterpillar
Caterpillar (CAT) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “Vietnam’s real trade test lies beyond Trump’s tariffs.” Reason on file: Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- DE Deere
Deere (DE) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “Vietnam’s real trade test lies beyond Trump’s tariffs.” Reason on file: Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- WMT Walmart
Walmart (WMT) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “Vietnam’s real trade test lies beyond Trump’s tariffs.” Reason on file: Walmart (variety stores): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
- NKE Nike
Nike (NKE) is linked, with no stored direction, medium confidence in the 14 Nov 2026 story “Vietnam’s real trade test lies beyond Trump’s tariffs.” Reason on file: Nike (rubber and plastics footwear): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story
How “Vietnam’s real trade test lies beyond Trump’s tariffs” reaches Select Sector Spdr Tr (XLI)
Select Sector Spdr Tr (XLI) is the company in “Vietnam’s real trade test lies beyond Trump’s tariffs,” the 14 Nov 2026 this story story.
Select Sector Spdr Tr (XLI) is on the page because Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
Spdr Series Trust (XRT) is here too. Its reason reads: SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story
Dates and price levels for Select Sector Spdr Tr (XLI)
VNM traded between 16.34 and 17.23 across 19 sessions. The latest close on file is 17.02. XLI traded between 163.00 and 172.33 across 20 sessions. The latest close on file is 169.73.
What the saved facts support for Select Sector Spdr Tr (XLI)
46 out of 100
“Vietnam’s real trade test lies beyond Trump’s tariffs” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.