Trump’s tariff hike shocks global markets, but Vietnam’s steel ambitions may be perfectly timed.

Chairman Tran Dinh Long says producing high-speed rail steel is a strategic move, not a gamble, for Vietnam’s largest steelmaker.

Hoa Phat Group is confident that the cost of its domestically produced steel rails for Vietnam’s future high-speed railway will be highly competitive. CEO Nguyen Viet Thang insists: “We never commit to a loss-making project.”