The Vietnamese dong is likely to test new lows as the country’s growing trade surplus with the US puts it at risk of targeted tariffs from the incoming Donald Trump administration.

Trump's biggest first-term trade impact was to shatter decades of political consensus favoring ever-lower trade barriers.

Canada on Friday (Jan 17) issued a stark warning to the United States, promising that the nation would be hit with a "Trump tariffs tax" if US president-elect Donald Trump follows through on his plan to impose 25 per cent tariffs on Canadian imports.

Donald Trump is promising to put import taxes back at the center of US economic policy during his second term as US president. The country heavily taxed imports for much of its history before largely abandoning the policy,