This is CBS Eye on the World. Here's John Batchelor.

Reuters, Hong Kong, dated now. There's precious little information about the trade agreement Donald Trump says he has struck with Vietnam, writes Reuters.

Anoy hasn't even fully confirmed the details the U.S. President laid out in a social media post

Wednesday within these last hours.

Taken alongside Trump's tariff talks are as much about trying to hem in China as anything else.

Chris Regal, a CEO of Scholar.com, a global technology firm, is here to help me understand

that we need to start with this deal to explain the intricacy of world trade up to this point

and how China, the People's Republic of China and the Chinese

Communist Party, has gamed the system by that, I mean the WTO, very successfully for decades. And now,

because the system is temporarily on pause, I believe, the gaming is not as easy as it was. I note that after this deal,

whatever it is, it sounds like 20% tariff and Vietnam has accepted it, but that's just a temporary

item here. Whatever this deal is, China has already blasted it. Chris, a very good day to you. Okay,

the tip here is that China's unhappy with the 20% deal struck by Vietnam, maybe. Why, Chris?

What's it to China? Good evening to you. Good evening, John. Vietnam has been, in last several years a much more interesting competitor to China when it comes to labor and infrastructure in the electronics industry.

So Vietnam is starting to really punch above their weight in taking business from China in many of the sectors,

whether it be television, smart code assembly, other.

So you're starting to see Vietnam as a labor competitor to the Chinese infrastructure,

and especially during pandemic when there's a lot of political friction with China over access and restricted

parts or restricted opportunities, you saw a number of very large global consumer technology

companies open up operations to Vietnam, and you continue to see that migration from the mainland

now to Vietnam as a good alternative.

And the alternative is lower tariffs, cheaper labor, modern factories.

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