Vignettes
Vignettes
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Who wins in the US-Vietnam trade deal?
On July 2, 2025, the United States and Vietnam finalized a new trade agreement involving tariffs. Under the deal, Vietnamese exports to the U.S. will face a 20% tariff, while U.S. goods entering Vietnam will be exempt from tariffs. From a U.S. perspective, this appears to be a favorable outcome, particularly for former President Donald Trump, who has long emphasized trade deals that benefit American interests. Using 2024 trade figures as a reference: Combined, these changes represent a potential economic shift of $28.63 billion, which supporters of the deal may view as a significant win for the U.S. However, the broader implications are more nuanced. While the tariff exemption may seem…
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Who Really Pays Import Tariffs?
Introduction Import tariffs are often portrayed as tools to protect domestic industries and penalize foreign producers. However, the reality of who bears the cost of these tariffs is more complex. While governments impose tariffs on foreign goods, the economic burden often falls on domestic actors—consumers, businesses, and even entire industries. This article explores the mechanics of import tariffs and analyzes who ultimately pays for them. 1. The Mechanics of an Import Tariff An import tariff is a tax imposed by a government on goods brought into the country. It is typically levied at the border and collected from the importer of record—usually a domestic business that brings in foreign goods. Key Point: The…
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Is Payment System in Germany Secured?
In addition to vast numbers of online shops, more and more retail shops in different categories, restaurants and cafes accept electronic payment other than payment by debit card or credit card. One can conveniently choose to pay by credit card, debit card, even to utilize tools from payment service providers, such as PayPal, Apple Pay or Google Pay. In Germany, it doesn’t matter which institution issued your debit or credit card, it is always either Master Card or Visa sitting behind it. As for payment providers, you can hardly find one beyond PayPal, Apple Pay or Google Pay. To make it simple, the market is dominated by giants from the…
