But that revenue could dry up if Trump imposes 46% tariffs on Vietnamese goods, a plan that is currently on hold until early July. That would be "catastrophic for our business," Le says. And selling to Vietnamese consumers is not an option,

Xi Jinping is in Southeast Asia to build bonds with countries that also face U.S. tariffs and have come under pressure from Washington to curb the transshipment of Chinese goods.

President Trump hinted this week that the tariff spat with China might end soon, but with the Chinese showing few signs of backing down, will the U.S. be forced to blink first? Scott Kennedy, senior adviser and trustee chair in Chinese business and economics at the Center for Strategic and International Studies,