United Nations Stated that India made a smaller but Substantial additional export gain of 755 million to the U.S in the first half of 2019 following trade diversion effects of USA’s tariff war with china.
The trade war between the two economic powers stands at $21 billion for the 1st half of 2019 with countries like Canada, India and south Korea are amongst the most beneficiaries of the trade war.
China has lost approximately $35 billion in exports this year in the U.S. market and $21 billion space is filled by other countries but remaining $14 billion might have either captured by local businesses or lost.
While Vietnam, Chile, Malaysia and Argentina are some other top countries that are benefiting most out the Beijing and Washington trade war.
It is reported that Vietnam is gaining around 7.9% GDP growth from trade division which is mostly coming from additional U.S imports.
As the Two sides battle companies are highly affected by high tariff rate are planning to shift there manufacturing of their products elsewhere. So, businesses operating in the other countries are experiencing economic growth.
Its seen that Go Pro a U.S based camera production company moved its production from China to Mexico in June for American Market in order save from huge tariffs but continues to produce in china for other markets than U.S.