Core Insights - In the first quarter, Zibo's total foreign trade import and export value reached 25.62 billion yuan, with exports valued at 15.77 billion yuan, reflecting a year-on-year growth of 5% [1] Trade Composition - General trade accounted for 83.6% of Zibo's foreign trade, with a total value of 21.42 billion yuan. Processing trade and bonded logistics saw imports and exports of 2.41 billion yuan and 1.79 billion yuan, respectively, marking year-on-year increases of 15.1% and 6.4% [1] Market Diversification - ASEAN emerged as Zibo's largest trading market, with a total trade value of 4.88 billion yuan, representing 19% of the city's foreign trade. Trade with the EU and the US reached 2.68 billion yuan and 2.49 billion yuan, showing year-on-year growth of 7.6% and 15.9%. Additionally, trade with emerging markets in Latin America and Africa amounted to 2.83 billion yuan and 1.65 billion yuan, with growth rates of 28.7% and 120% respectively [1] Export Growth by Product - Exports of electromechanical products totaled 2.9 billion yuan, up 6.3%, constituting 18.4% of Zibo's total exports. Other notable export growth included glass products at 1.4 billion yuan (7% increase), medicinal materials and pharmaceuticals at 950 million yuan (25.2% increase), and paper products at 740 million yuan (64.4% increase) [1] Import Growth - Zibo's imports included crude oil valued at 4.22 billion yuan, making up 42.9% of total imports. Other significant imports were pulp at 1.3 billion yuan, coal at 700 million yuan, and aluminum ore at 560 million yuan, with growth rates of 58.6%, 23%, and 4.7 times respectively [2] Enterprise Contribution - Private enterprises contributed 20.85 billion yuan to the total foreign trade, accounting for 81.4%. Foreign enterprises had an import and export value of 3.31 billion yuan, reflecting a year-on-year increase of 7.3%, while state-owned enterprises contributed 1.47 billion yuan [1]

Core Points - The U.S. government announced a 46% reciprocal tariff on Vietnam, which has raised concerns among Chinese businesses operating in Vietnam, although the implementation has been postponed for 90 days [1][4][12] - Vietnamese companies are actively seeking to diversify their supply chains and explore new trade partnerships, particularly with Europe and other developing countries, in response to the trade tensions [6][40] - The potential impact of the tariffs could significantly harm Vietnam's export-driven economy, as exports to the U.S. account for approximately 30% of Vietnam's total exports and 25% of its GDP [8][11][12] Group 1: Business Operations and Strategies - Chinese companies in Vietnam, such as those in the packaging industry, are currently not making drastic changes to their production plans despite the tariff announcement [4][16] - Companies are preparing for potential impacts by expediting shipments and negotiating with clients to mitigate losses [12][15][30] - The Vietnamese government is engaging in negotiations with the U.S. to reduce the proposed tariffs and has expressed willingness to lower tariffs on U.S. goods to zero [17][19][20] Group 2: Economic Impact and Trade Relations - The tariffs could lead to a 3.5% reduction in Vietnam's economic output by 2026 under optimistic scenarios, effectively halving the country's growth rate [12][21] - Vietnam's export economy, particularly in sectors like ceramics and agricultural products, is heavily reliant on the U.S. market, with some local industries facing increased tariffs on their exports [13][14][15] - The Vietnamese government is taking steps to strengthen its trade relationships with both the U.S. and China, aiming to maintain a balance in its foreign relations [40][41] Group 3: Investment Trends - Chinese investment in Vietnam has surged, with registered investments reaching $4.47 billion in 2023, a 77.6% increase from the previous year [22] - The focus of Chinese investments is shifting from traditional manufacturing to high-tech and renewable energy sectors, indicating a diversification of investment strategies [22][23] - The presence of Chinese companies in Vietnam is expected to continue growing, as they seek to mitigate risks associated with U.S.-China trade tensions [29][44]

Core Viewpoint - Kimberly-Clark Corp. has lowered its profit expectations for the year due to the impact of global trade tensions on its costs, leading to uncertainty in its financial outlook [1] Financial Performance - The company now anticipates that its adjusted operating profit for 2025 will be flat or show slight growth, a revision from the earlier forecast of high single-digit growth made in January [1] - CEO Mike Hsu indicated that the current environment will result in higher costs for the global supply chain than previously expected at the beginning of the year [1] Management Outlook - Despite the challenges, the CEO expressed confidence that the company can offset these costs over time, which would help improve profitability [1]