China's premier says higher tariffs have dealt a “severe blow” to the world economy, even as China's own trade surplus has surged past $1 trillion.

Chinese firms are expanding in Vietnam, leading investment inflows and sending record shipments to Hanoi in defiance of US calls for decoupling.

The tariffs will apply to goods from China and other nations. Washington has been pressuring Mexico to move away from dealing with China.

Indonesia is resisting US trade deal demands that it fears would restrain its independence, particularly in critical minerals and energy that risk its relations with China and Russia, according to people familiar with the situation.

By Francesco Guarascio HANOI, Dec 10 (Reuters) - Chinese firms are expanding in Vietnam, leading investment inflows and sending record shipments to Hanoi in defiance of U.S. calls for decoupling, as the Communist neighbours beef up ties.

Tariffs seem like holiday background noise, but Trump's 2026 trade decisions could move inflation, markets, and the U.S. economy in a big way.