Sometimes you find the most telling details in the most obscure places.

To understand the nature of President Trump’s trade war with China, a rarely noticed number is the most useful: Vietnam’s exports to the United States were 35% higher in the first nine months of 2019 compared to the first nine months in 2018. At the same time, trade expert Michael Ryan explains, various “factors are lengthening the delivery cycle to consumers” from Vietnam.

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