{
    "id": 57576,
    "date": "2025-12-23T09:32:15",
    "date_gmt": "2025-12-23T02:32:15",
    "guid": {
        "rendered": "https:\/\/hbbgroup.net\/thue-nhap-khau-cua-ong-trump-chi-phoi-kinh-te-toan-cau-nam-2025\/"
    },
    "modified": "2025-12-23T09:32:15",
    "modified_gmt": "2025-12-23T02:32:15",
    "slug": "thue-nhap-khau-cua-ong-trump-chi-phoi-kinh-te-toan-cau-nam-2025",
    "status": "publish",
    "type": "post",
    "link": "https:\/\/hbbgroup.net\/en_us\/thue-nhap-khau-cua-ong-trump-chi-phoi-kinh-te-toan-cau-nam-2025\/",
    "title": {
        "rendered": "Thu\u1ebf nh\u1eadp kh\u1ea9u c\u1ee7a \u00f4ng Trump chi ph\u1ed1i kinh t\u1ebf to\u00e0n c\u1ea7u n\u0103m 2025"
    },
    "content": {
        "rendered": "<p>Thu\u1ebf c\u1ee7a \u00f4ng Trump v\u1ebd l\u1ea1i d\u00f2ng ch\u1ea3y th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u, k\u00e9o gi\u00e1 v\u00e0ng l\u00ean \u0111\u1ec9nh, khi\u1ebfn Trung Qu\u1ed1c si\u1ebft \u0111\u1ea5t hi\u1ebfm v\u00e0 Fed gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t su\u1ed1t 9 th\u00e1ng.<\/p>\n<p>N\u0103m nay l\u00e0 m\u1ed9t n\u0103m nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh v\u1edbi kinh t\u1ebf to\u00e0n c\u1ea7u. D\u1ef1 b\u00e1o c\u1ee7a c\u00e1c nh\u00e0 kinh t\u1ebf h\u1ecdc v\u00ec th\u1ebf c\u0169ng thay \u0111\u1ed5i li\u00ean t\u1ee5c, t\u1eeb l\u1ea1c quan \u0111\u1ebfn bi quan v\u00e0 ng\u01b0\u1ee3c l\u1ea1i.<\/p>\n<p>Cho \u0111\u1ebfn cu\u1ed1i th\u00e1ng 3, kinh t\u1ebf to\u00e0n c\u1ea7u v\u1eabn di\u1ec5n bi\u1ebfn \u0111\u00fang nh\u01b0 k\u1ef3 v\u1ecdng h\u1ed3i \u0111\u1ea7u n\u0103m. Sau \u0111\u00f3, b\u1ee9c tranh b\u1eaft \u0111\u1ea7u thay \u0111\u1ed5i, khi T\u1ed5ng th\u1ed1ng M\u1ef9 Donald Trump t\u0103ng m\u1ea1nh thu\u1ebf nh\u1eadp kh\u1ea9u v\u00e0o n\u01b0\u1edbc n\u00e0y t\u1eeb th\u00e1ng 4, khi\u1ebfn c\u0103ng th\u1eb3ng th\u01b0\u01a1ng m\u1ea1i gi\u1eefa c\u00e1c n\u1ec1n kinh t\u1ebf l\u1edbn \u0111\u1ed3ng lo\u1ea1t leo thang. B\u1ea5t \u1ed5n ch\u00ednh s\u00e1ch t\u0103ng l\u00ean m\u1ee9c ch\u01b0a t\u1eebng c\u00f3. C\u00e1c th\u1ecb tr\u01b0\u1eddng chu\u1ea9n b\u1ecb cho k\u1ecbch b\u1ea3n kinh t\u1ebf to\u00e0n c\u1ea7u lao d\u1ed1c, c\u00f2n c\u00e1c t\u1ed5 ch\u1ee9c l\u1ea7n l\u01b0\u1ee3t h\u1ea1 d\u1ef1 b\u00e1o t\u0103ng tr\u01b0\u1edfng. \u0110\u1ebfn th\u00e1ng 5, t\u0103ng tr\u01b0\u1edfng to\u00e0n c\u1ea7u n\u0103m nay \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o gi\u1ea3m xu\u1ed1ng m\u1ed9t trong nh\u1eefng m\u1ee9c th\u1ea5p nh\u1ea5t nhi\u1ec1u n\u0103m qua.<\/p>\n<p>Nh\u01b0ng sau \u0111\u00f3, \u0111\u1ed9ng l\u1ef1c l\u1ea1i \u0111\u1ea3o chi\u1ec1u. C\u00fa s\u1ed1c thu\u1ebf nh\u1eadp kh\u1ea9u kh\u00f4ng g\u00e2y ra suy gi\u1ea3m nhanh nh\u01b0 nhi\u1ec1u ng\u01b0\u1eddi lo ng\u1ea1i, \u00edt nh\u1ea5t l\u00e0 \u0111\u1ebfn nay. Nh\u1edd c\u00e1c cu\u1ed9c \u0111\u00e0m ph\u00e1n th\u01b0\u01a1ng m\u1ea1i, m\u1ee9c thu\u1ebf hi\u1ec7n \u00e1p d\u1ee5ng th\u1ea5p h\u01a1n so v\u1edbi c\u00f4ng b\u1ed1 h\u1ed3i th\u00e1ng 4 c\u1ee7a \u00f4ng Trump. D\u00f2ng ch\u1ea3y th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u \u0111\u01b0\u1ee3c s\u1eafp x\u1ebfp l\u1ea1i. Ho\u1ea1t \u0111\u1ed9ng t\u1ea1i c\u00e1c n\u1ec1n kinh t\u1ebf v\u1eabn \u0111\u01b0\u1ee3c duy tr\u00ec. B\u1ea5t \u1ed5n d\u00f9 v\u1eabn cao, nh\u01b0ng \u0111\u00e3 h\u1ea1 nhi\u1ec7t \u0111\u00e1ng k\u1ec3 so v\u1edbi \u0111\u1ea7u n\u0103m.<\/p>\n<p>Trong b\u00e1o c\u00e1o Tri\u1ec3n v\u1ecdng Kinh t\u1ebf Th\u1ebf gi\u1edbi h\u1ed3i th\u00e1ng 10, Qu\u1ef9 Ti\u1ec1n t\u1ec7 Qu\u1ed1c t\u1ebf (IMF) d\u1ef1 b\u00e1o to\u00e0n c\u1ea7u t\u0103ng tr\u01b0\u1edfng 3,2% n\u0103m nay. T\u1ed1c \u0111\u1ed9 n\u00e0y th\u1ea5p h\u01a1n n\u0103m ngo\u00e1i (3,3%), nh\u01b0ng \u0111\u00e3 nh\u00edch l\u00ean so v\u1edbi d\u1ef1 b\u00e1o h\u1ed3i gi\u1eefa n\u0103m.<\/p>\n<p><span><strong>M\u1ef9 \u00e1p thu\u1ebf nh\u1eadp kh\u1ea9u v\u1edbi to\u00e0n b\u1ed9 \u0111\u1ed1i t\u00e1c th\u01b0\u01a1ng m\u1ea1i<\/strong><\/span><\/p>\n<p>S\u1ef1 ki\u1ec7n chi ph\u1ed1i kinh t\u1ebf to\u00e0n c\u1ea7u n\u0103m nay l\u00e0 ch\u00ednh s\u00e1ch th\u01b0\u01a1ng m\u1ea1i ch\u01b0a t\u1eebng c\u00f3 ti\u1ec1n l\u1ec7 c\u1ee7a T\u1ed5ng th\u1ed1ng M\u1ef9 Donald Trump. \u0110\u00fang nh\u01b0 cam k\u1ebft trong chi\u1ebfn d\u1ecbch tranh c\u1eed, ngay sau khi quay l\u1ea1i Nh\u00e0 Tr\u1eafng, \u00f4ng li\u00ean ti\u1ebfp c\u00f4ng b\u1ed1 \u00e1p thu\u1ebf m\u1edbi. Thu\u1ebf nh\u1eadp kh\u1ea9u tr\u1edf th\u00e0nh tr\u1ee5 c\u1ed9t trong ch\u00ednh s\u00e1ch kinh t\u1ebf l\u1ea7n n\u00e0y c\u1ee7a \u00f4ng, v\u1edbi quy m\u00f4 v\u00e0 m\u1ee9c \u0111\u1ed9 h\u01a1n h\u1eb3n nhi\u1ec7m k\u1ef3 \u0111\u1ea7u.<\/p>\n<p>Ngo\u00e0i vi\u1ec7c \u00e1p thu\u1ebf ri\u00eang v\u1edbi c\u00e1c ng\u00e0nh s\u1ea3n ph\u1ea9m nh\u01b0 nh\u00f4m, th\u00e9p, xe h\u01a1i, T\u1ed5ng th\u1ed1ng M\u1ef9 \u0111\u1ea7u th\u00e1ng 4 c\u00f2n g\u00e2y s\u1eedng s\u1ed1t cho c\u1ea3 th\u1ebf gi\u1edbi khi c\u00f4ng b\u1ed1 thu\u1ebf \u0111\u1ed1i \u1ee9ng v\u1edbi to\u00e0n b\u1ed9 \u0111\u1ed1i t\u00e1c th\u01b0\u01a1ng m\u1ea1i. Theo k\u1ebf ho\u1ea1ch, h\u01a1n 180 n\u1ec1n kinh t\u1ebf s\u1ebd ch\u1ecbu thu\u1ebf 10-46%, t\u00f9y v\u00e0o m\u1ee9c \u0111\u1ed9 th\u00e2m h\u1ee5t ho\u1eb7c th\u1eb7ng d\u01b0 th\u01b0\u01a1ng m\u1ea1i v\u1edbi M\u1ef9. \u00d4ng Trump kh\u1eb3ng \u0111\u1ecbnh thu\u1ebf s\u1ebd gi\u00fap c\u00e2n b\u1eb1ng th\u01b0\u01a1ng m\u1ea1i, v\u1ef1c d\u1eady ng\u00e0nh s\u1ea3n xu\u1ea5t M\u1ef9 v\u00e0 \u0111\u01b0a vi\u1ec7c l\u00e0m ng\u00e0nh n\u00e0y quay v\u1ec1 n\u01b0\u1edbc.<\/p>\n<p>D\u00f9 sau \u0111\u00f3, m\u1ee9c th\u1ef1c t\u1ebf v\u1edbi nhi\u1ec1u n\u01b0\u1edbc gi\u1ea3m xu\u1ed1ng nh\u1edd \u0111\u00e0m ph\u00e1n th\u1ecfa thu\u1eadn th\u01b0\u01a1ng m\u1ea1i, thu\u1ebf trung b\u00ecnh v\u1edbi c\u00e1c s\u1ea3n ph\u1ea9m v\u00e0o M\u1ef9 v\u1eabn l\u00ean 17,4% &#8211; cao nh\u1ea5t k\u1ec3 t\u1eeb n\u0103m 1935. T\u1ea1i M\u1ef9, thu\u1ebf nh\u1eadp kh\u1ea9u ch\u01b0a khi\u1ebfn l\u1ea1m ph\u00e1t t\u0103ng m\u1ea1nh nh\u01b0 c\u1ea3nh b\u00e1o ban \u0111\u1ea7u c\u1ee7a gi\u1edbi kinh t\u1ebf h\u1ecdc. Tuy nhi\u00ean, ch\u1ec9 s\u1ed1 gi\u00e1 ti\u00eau d\u00f9ng (CPI) n\u01b0\u1edbc n\u00e0y li\u00ean ti\u1ebfp t\u0103ng t\u1ed1c k\u1ec3 t\u1eeb khi \u00e1p thu\u1ebf \u0111\u1ed1i \u1ee9ng. Gi\u00e1 c\u1ea3 nhi\u1ec1u m\u1eb7t h\u00e0ng \u1edf m\u1ee9c cao khi\u1ebfn ng\u01b0\u1eddi d\u00e2n kh\u00f4ng h\u00e0i l\u00f2ng, bu\u1ed9c T\u1ed5ng th\u1ed1ng M\u1ef9 g\u1ea7n \u0111\u00e2y li\u00ean ti\u1ebfp k\u00fd s\u1eafc l\u1ec7nh mi\u1ec5n thu\u1ebf v\u1edbi c\u00e1c lo\u1ea1i th\u1ef1c ph\u1ea9m.<\/p>\n<p>Thu\u1ebf nh\u1eadp kh\u1ea9u c\u1ee7a \u00f4ng Trump c\u0169ng v\u1ebd l\u1ea1i b\u1ea3n \u0111\u1ed3 th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u. Doanh nghi\u1ec7p t\u00ecm c\u00e1ch d\u1ecbch chuy\u1ec3n s\u1ea3n xu\u1ea5t sang c\u00e1c \u0111\u1ecba \u0111i\u1ec3m \u00edt r\u1ee7i ro, \u0111\u1ed3ng th\u1eddi chuy\u1ec3n h\u01b0\u1edbng xu\u1ea5t kh\u1ea9u sang c\u00e1c n\u01a1i kh\u00e1c ngo\u00e0i M\u1ef9, d\u00f9 \u0111\u00e2y l\u00e0 th\u1ecb tr\u01b0\u1eddng ti\u00eau th\u1ee5 l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi. Nhi\u1ec1u n\u1ec1n kinh t\u1ebf x\u00edch l\u1ea1i g\u1ea7n nhau, k\u00fd k\u1ebft h\u00e0ng lo\u1ea1t hi\u1ec7p \u0111\u1ecbnh th\u01b0\u01a1ng m\u1ea1i v\u00e0 h\u1ed3i sinh c\u00e1c cu\u1ed9c \u0111\u00e0m ph\u00e1n b\u1ecb \u0111\u00ecnh tr\u1ec7 t\u1eeb l\u00e2u. Trung Qu\u1ed1c &#8211; n\u01b0\u1edbc c\u0103ng th\u1eb3ng nh\u1ea5t v\u1edbi M\u1ef9 trong cu\u1ed9c chi\u1ebfn thu\u1ebf nh\u1eadp kh\u1ea9u n\u0103m nay &#8211; th\u1eadm ch\u00ed ghi nh\u1eadn th\u1eb7ng d\u01b0 th\u01b0\u01a1ng m\u1ea1i h\u01a1n 1.000 t\u1ef7 USD trong 11 th\u00e1ng \u0111\u1ea7u n\u0103m, d\u00f9 xu\u1ea5t kh\u1ea9u sang M\u1ef9 li\u00ean ti\u1ebfp gi\u1ea3m \u1edf m\u1ee9c 2 ch\u1eef s\u1ed1.<\/p>\n<p><span><strong>Gi\u00e1 v\u00e0ng th\u1ebf gi\u1edbi l\u1eadp \u0111\u1ec9nh m\u1edbi<\/strong><\/span><\/p>\n<figure data-size=\"true\" itemprop=\"associatedMedia image\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"> <meta itemprop=\"url\" content=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/screenshot-2025-12-18-162339-1-9264-3351-1766052422.png?w=0&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=Oioc2yL3EzAyugnOa1EHAw\"> <meta itemprop=\"width\" content=\"680\"> <meta itemprop=\"height\" content=\"316.59420289855\"> <meta itemprop=\"href\" content> <\/p>\n<div data-width=\"680\"><picture><source data-srcset=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/screenshot-2025-12-18-162339-1-9264-3351-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=LaaZCjk8CagVBOeU66cBDg 1x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/screenshot-2025-12-18-162339-1-9264-3351-1766052422.png?w=1020&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=4ILdlIuU9mI0U9P8DUa8hw 1.5x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/screenshot-2025-12-18-162339-1-9264-3351-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=bbXd9JB4M1xWnNG9bKU4rg 2x\"><img decoding=\"async\" itemprop=\"contentUrl\" loading=\"lazy\" intrinsicsize=\"680x0\" alt=\"Di\u1ec5n bi\u1ebfn gi\u00e1 v\u00e0ng th\u1ebf gi\u1edbi n\u0103m 2025. \u0110\u1ed3 th\u1ecb: Goldprice\" src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/screenshot-2025-12-18-162339-1-9264-3351-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=LaaZCjk8CagVBOeU66cBDg\" previous-src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/screenshot-2025-12-18-162339-1-9264-3351-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=LaaZCjk8CagVBOeU66cBDg\"> <\/picture><\/div><figcaption itemprop=\"description\">\n<p>Di\u1ec5n bi\u1ebfn gi\u00e1 v\u00e0ng th\u1ebf gi\u1edbi n\u0103m 2025. \u0110\u1ed3 th\u1ecb: <em>Goldprice<\/em><\/p>\n<\/figcaption><\/figure>\n<p>B\u1ea5t \u1ed5n kinh t\u1ebf &#8211; ch\u00ednh tr\u1ecb leo thang tr\u00ean to\u00e0n c\u1ea7u khi\u1ebfn v\u00e0ng ti\u1ebfp t\u1ee5c chu\u1ed7i t\u0103ng gi\u00e1. Sau khi t\u0103ng 30% n\u0103m ngo\u00e1i, gi\u00e1 kim lo\u1ea1i qu\u00fd \u0111\u00e3 l\u00ean th\u00eam h\u01a1n 60% n\u0103m nay, l\u1eadp \u0111\u1ec9nh m\u1edbi 50 l\u1ea7n. H\u1ed3i th\u00e1ng 10, gi\u00e1 c\u00f3 th\u1eddi \u0111i\u1ec3m l\u1eadp k\u1ef7 l\u1ee5c t\u1ea1i 4.381 USD m\u1ed9t ounce. Hi\u1ec7n t\u1ea1i, v\u00e0ng giao d\u1ecbch quanh 4.300 USD.<\/p>\n<p>N\u0103m nay, nh\u00e0 \u0111\u1ea7u t\u01b0 mua v\u00e0ng m\u1ea1nh tay. Th\u1ecb tr\u01b0\u1eddng to\u00e0n c\u1ea7u ph\u1ea3n \u1ee9ng tr\u01b0\u1edbc c\u0103ng th\u1eb3ng gi\u1eefa M\u1ef9 v\u00e0 c\u00e1c n\u1ec1n kinh t\u1ebf l\u1edbn, thu\u1ebf nh\u1eadp kh\u1ea9u t\u0103ng cao v\u00e0 b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb k\u00e9o d\u00e0i. C\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u0169ng \u0111\u00f3ng vai tr\u00f2 then ch\u1ed1t, mua v\u00e0ng v\u1edbi t\u1ed1c \u0111\u1ed9 nhanh khi c\u00e1c n\u1ec1n kinh t\u1ebf l\u1edbn \u0111i\u1ec1u ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c l\u00e3i su\u1ea5t.<\/p>\n<p>Nhu c\u1ea7u \u0111\u1ea7u t\u01b0 th\u00f4ng qua c\u00e1c qu\u1ef9 ETF v\u00e0ng c\u0169ng l\u00ean cao. D\u1eef li\u1ec7u c\u1ee7a H\u1ed9i \u0111\u1ed3ng V\u00e0ng Th\u1ebf gi\u1edbi (WGC) cho th\u1ea5y c\u00e1c qu\u1ef9 ETF v\u00e0ng to\u00e0n c\u1ea7u thu h\u00fat 77 t\u1ef7 USD v\u1ed1n \u0111\u1ea7u t\u01b0 n\u0103m 2025, b\u1ed5 sung h\u01a1n 700 t\u1ea5n v\u00e0ng v\u00e0o danh m\u1ee5c. N\u1ebfu t\u00ednh t\u1eeb th\u00e1ng 5\/2024, con s\u1ed1 n\u00e0y t\u0103ng th\u00eam 850 t\u1ea5n. M\u1ee9c n\u00e0y ch\u1ec9 b\u1eb1ng m\u1ed9t n\u1eeda so v\u1edbi c\u00e1c chu k\u1ef3 t\u0103ng gi\u00e1 tr\u01b0\u1edbc, v\u00e0 theo WGC l\u00e0 &#8220;c\u00f2n d\u01b0 \u0111\u1ecba l\u1edbn \u0111\u1ec3 t\u0103ng tr\u01b0\u1edfng&#8221;.<\/p>\n<p>WGC nh\u1ea5n m\u1ea1nh l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 gi\u1ea3m, c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb t\u0103ng cao v\u00e0 nhu c\u1ea7u t\u00e0i s\u1ea3n an to\u00e0n c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd t\u1ea1o ra &#8220;\u0111i\u1ec1u ki\u1ec7n \u0111\u1eb7c bi\u1ec7t thu\u1eadn l\u1ee3i&#8221; cho v\u00e0ng trong n\u0103m 2026. V\u1edbi t\u00ecnh h\u00ecnh \u0111\u00f3, gi\u00e1 kim lo\u1ea1i qu\u00fd c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c t\u0103ng 15-30% n\u0103m t\u1edbi, ghi nh\u1eadn th\u00eam m\u1ed9t trong nh\u1eefng n\u0103m t\u0103ng m\u1ea1nh nh\u1ea5t l\u1ecbch s\u1eed. Th\u00e1ng n\u00e0y, ng\u00e2n h\u00e0ng Goldman Sachs v\u00e0 Morgan Stanley d\u1ef1 b\u00e1o gi\u00e1 v\u00e0ng cu\u1ed1i n\u0103m sau c\u00f3 th\u1ec3 l\u00ean 4.800-4.900 USD m\u1ed9t ounce.<\/p>\n<p><span><strong>Ch\u1ee9ng kho\u00e1n M\u1ef9 li\u00ean ti\u1ebfp l\u1eadp k\u1ef7 l\u1ee5c<\/strong><\/span><\/p>\n<p>Kinh t\u1ebf &#8211; ch\u00ednh tr\u1ecb M\u1ef9 n\u0103m nay ghi nh\u1eadn nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng, t\u1eeb thu\u1ebf nh\u1eadp kh\u1ea9u, Fed gi\u1ea3m l\u00e3i su\u1ea5t, M\u1ef9 b\u1ecb h\u1ea1 b\u1eadc t\u00edn nhi\u1ec7m \u0111\u1ebfn ch\u00ednh ph\u1ee7 \u0111\u00f3ng c\u1eeda. C\u00e1c di\u1ec5n bi\u1ebfn n\u00e0y \u0111\u1ec1u \u0111\u01b0\u1ee3c ph\u1ea3n \u00e1nh t\u1ea1i Wall Street.<\/p>\n<figure data-size=\"true\" itemprop=\"associatedMedia image\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"> <meta itemprop=\"url\" content=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Screenshot-2025-12-18-162609-1-5990-9956-1766052422.png?w=0&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=8cHKE0Ed4OTYffnK7rirWw\"> <meta itemprop=\"width\" content=\"680\"> <meta itemprop=\"height\" content=\"221.72447968285\"> <meta itemprop=\"href\" content> <\/p>\n<div data-width=\"680\"><picture><source data-srcset=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Screenshot-2025-12-18-162609-1-5990-9956-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=HXgIVB-sBGTvqZFj2ZA4LA 1x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Screenshot-2025-12-18-162609-1-5990-9956-1766052422.png?w=1020&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=Ef-Gs3cXfq0z969bfIbxLA 1.5x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Screenshot-2025-12-18-162609-1-5990-9956-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=54-vKUmbkRcIZGfRgBIxnQ 2x\"><img decoding=\"async\" itemprop=\"contentUrl\" loading=\"lazy\" intrinsicsize=\"680x0\" alt=\"Ch\u1ec9 s\u1ed1 S&#038;P 500 lao d\u1ed1c h\u1ed3i th\u00e1ng 4, sau \u0111\u00f3 li\u00ean t\u1ee5c \u0111i l\u00ean. \u0110\u1ed3 th\u1ecb: Google Finance\" src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Screenshot-2025-12-18-162609-1-5990-9956-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=HXgIVB-sBGTvqZFj2ZA4LA\" previous-src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Screenshot-2025-12-18-162609-1-5990-9956-1766052422.png?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=HXgIVB-sBGTvqZFj2ZA4LA\"> <\/picture><\/div><figcaption itemprop=\"description\">\n<p>Ch\u1ec9 s\u1ed1 S&#038;P 500 lao d\u1ed1c h\u1ed3i th\u00e1ng 4, sau \u0111\u00f3 li\u00ean t\u1ee5c \u0111i l\u00ean. \u0110\u1ed3 th\u1ecb: <em>Google Finance<\/em><\/p>\n<\/figcaption><\/figure>\n<p>\u0110\u1ea7u th\u00e1ng 4, T\u1ed5ng th\u1ed1ng Trump l\u1ea7n \u0111\u1ea7u c\u00f4ng b\u1ed1 thu\u1ebf \u0111\u1ed1i \u1ee9ng, khi\u1ebfn ch\u1ec9 s\u1ed1 S&#038;P 500 gi\u1ea3m 11% ch\u1ec9 trong 3 ng\u00e0y &#8211; l\u1edbn nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 3\/2020. DJIA c\u0169ng ghi nh\u1eadn hai phi\u00ean li\u00ean ti\u1ebfp m\u1ea5t tr\u00ean 1.500 \u0111i\u1ec3m. Nh\u00e0 \u0111\u1ea7u t\u01b0 khi \u0111\u00f3 lo ng\u1ea1i thu\u1ebf nh\u1eadp kh\u1ea9u c\u00f3 th\u1ec3 khi\u1ebfn l\u1ea1m ph\u00e1t t\u0103ng v\u1ecdt, \u0111\u1ea9y kinh t\u1ebf to\u00e0n c\u1ea7u v\u00e0o suy tho\u00e1i.<\/p>\n<p>Tuy nhi\u00ean, ch\u1ec9 v\u00e0i ng\u00e0y sau, \u00f4ng Trump ho\u00e3n \u00e1p m\u1ed9t ph\u1ea7n thu\u1ebf, kh\u1edfi \u0111\u1ed9ng qu\u00e1 tr\u00ecnh \u0111\u00e0m ph\u00e1n th\u01b0\u01a1ng m\u1ea1i v\u1edbi c\u00e1c n\u01b0\u1edbc. C\u00e1c ch\u1ec9 s\u1ed1 b\u1eaft \u0111\u1ea7u t\u0103ng tr\u1edf l\u1ea1i v\u00e0 li\u00ean ti\u1ebfp l\u1eadp k\u1ef7 l\u1ee5c m\u1edbi, b\u1ea5t ch\u1ea5p c\u0103ng th\u1eb3ng M\u1ef9 &#8211; Trung Qu\u1ed1c nhi\u1ec1u l\u1ea7n leo thang v\u00e0 ch\u00ednh ph\u1ee7 M\u1ef9 tr\u1ea3i qua \u0111\u1ee3t \u0111\u00f3ng c\u1eeda d\u00e0i nh\u1ea5t l\u1ecbch s\u1eed.<\/p>\n<p>C\u00e1c nguy\u00ean nh\u00e2n kh\u00e1c gi\u00fap ch\u1ee9ng kho\u00e1n M\u1ef9 t\u0103ng \u0111i\u1ec3m l\u00e0 k\u1ebft qu\u1ea3 kinh doanh t\u00edch c\u1ef1c c\u1ee7a c\u00e1c doanh nghi\u1ec7p, s\u1ef1 h\u00e0o h\u1ee9ng v\u1edbi l\u00e0n s\u00f3ng AI tr\u00ean to\u00e0n c\u1ea7u v\u00e0 C\u1ee5c D\u1ef1 tr\u1eef li\u00ean bang M\u1ef9 gi\u1ea3m l\u00e3i su\u1ea5t. H\u1ed3i th\u00e1ng 5, S&#038;P 500 th\u1eadm ch\u00ed ghi nh\u1eadn chu\u1ed7i t\u0103ng d\u00e0i nh\u1ea5t h\u01a1n 20 n\u0103m. \u0110\u1ebfn nay, S&#038;P 500 \u0111\u00e3 t\u0103ng g\u1ea7n 15%, DJIA t\u0103ng 13% v\u00e0 Nasdaq Composite t\u0103ng t\u1edbi 17%.<\/p>\n<p>C\u01a1n s\u1ed1t AI th\u1eadm ch\u00ed gi\u00fap Nvidia tr\u1edf th\u00e0nh c\u00f4ng ty \u0111\u1ea7u ti\u00ean tr\u00ean th\u1ebf gi\u1edbi ch\u1ea1m m\u1ed1c v\u1ed1n h\u00f3a 5.000 t\u1ef7 USD h\u1ed3i th\u00e1ng 10. \u0110\u00e0 t\u0103ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n M\u1ef9 n\u0103m nay \u0111\u00e3 th\u00fac \u0111\u1ea9y ti\u00eau d\u00f9ng &#8211; \u0111\u1ed9ng l\u1ef1c quan tr\u1ecdng c\u1ee7a n\u1ec1n kinh t\u1ebf l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi.<\/p>\n<p><span><strong>Fed gi\u1ea3m l\u00e3i su\u1ea5t sau 9 th\u00e1ng t\u1ea1m d\u1eebng<\/strong><\/span><\/p>\n<figure data-size=\"true\" itemprop=\"associatedMedia image\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"> <meta itemprop=\"url\" content=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Fed-jpeg-1765394703-3361-17653-1122-4461-1766052422.jpg?w=0&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=8znW2wNTfZHYQUCs9ONWIQ\"> <meta itemprop=\"width\" content=\"680\"> <meta itemprop=\"height\" content=\"281.33333333333\"> <meta itemprop=\"href\" content> <\/p>\n<div data-width=\"680\"><picture><source data-srcset=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Fed-jpeg-1765394703-3361-17653-1122-4461-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=LfkkJ1be6lfAWsysrVecBw 1x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Fed-jpeg-1765394703-3361-17653-1122-4461-1766052422.jpg?w=1020&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=R81beiFZwH93o4ZBuyFzpQ 1.5x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Fed-jpeg-1765394703-3361-17653-1122-4461-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=nBacR8CoHYLcMbBLGUy7pQ 2x\"><img decoding=\"async\" itemprop=\"contentUrl\" loading=\"lazy\" intrinsicsize=\"680x0\" alt=\"L\u00e3i su\u1ea5t tham chi\u1ebfu trung b\u00ecnh c\u1ee7a Fed giai \u0111o\u1ea1n 1995-2025. Bi\u1ec3u \u0111\u1ed3: Reuters\" src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Fed-jpeg-1765394703-3361-17653-1122-4461-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=LfkkJ1be6lfAWsysrVecBw\" previous-src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/Fed-jpeg-1765394703-3361-17653-1122-4461-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=LfkkJ1be6lfAWsysrVecBw\"> <\/picture><\/div><figcaption itemprop=\"description\">\n<p>L\u00e3i su\u1ea5t tham chi\u1ebfu trung b\u00ecnh c\u1ee7a Fed giai \u0111o\u1ea1n 1995-2025. Bi\u1ec3u \u0111\u1ed3: <em>Reuters<\/em><\/p>\n<\/figcaption><\/figure>\n<p>N\u0103m nay, Fed \u0111\u00e3 3 l\u1ea7n gi\u1ea3m l\u00e3i su\u1ea5t \u1edf 3 phi\u00ean h\u1ecdp li\u00ean ti\u1ebfp cu\u1ed1i n\u0103m. V\u1edbi m\u1ee9c gi\u1ea3m m\u1ed7i l\u1ea7n 25 \u0111i\u1ec3m c\u01a1 b\u1ea3n (0,25%), l\u00e3i su\u1ea5t tham chi\u1ebfu t\u1ea1i M\u1ef9 hi\u1ec7n ch\u1ec9 c\u00f2n 3,5-3,75% &#8211; th\u1ea5p nh\u1ea5t k\u1ec3 t\u1eeb cu\u1ed1i n\u0103m 2022.<\/p>\n<p>L\u00fd do chung cho c\u00e1c \u0111\u1ed9ng th\u00e1i n\u00e0y \u0111\u1ec1u l\u00e0 th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng y\u1ebfu \u0111i v\u00e0 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf ch\u1eadm l\u1ea1i. D\u00f9 v\u1eady, trong c\u00e1c cu\u1ed9c h\u1ecdp, quan ch\u1ee9c Fed lu\u00f4n c\u1ea3nh b\u00e1o l\u1ea1m ph\u00e1t t\u0103ng t\u1ed1c so v\u1edbi \u0111\u1ea7u n\u0103m v\u00e0 v\u1eabn \u1edf m\u1ee9c cao. \u0110\u00e2y c\u0169ng l\u00e0 nguy\u00ean nh\u00e2n h\u1ecd th\u1eadn tr\u1ecdng trong su\u1ed1t 9 th\u00e1ng \u0111\u1ea7u n\u0103m. Fed gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t t\u1eeb sau l\u1ea7n \u0111i\u1ec1u ch\u1ec9nh th\u00e1ng 12\/2024, \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 r\u00f5 h\u01a1n v\u1ec1 xu h\u01b0\u1edbng l\u1ea1m ph\u00e1t v\u00e0 vi\u1ec7c l\u00e0m c\u1ee7a M\u1ef9 sau \u00e1p thu\u1ebf nh\u1eadp kh\u1ea9u.<\/p>\n<p>S\u1ef1 ch\u1ea7n ch\u1eeb n\u00e0y \u0111\u1ea9y c\u0103ng th\u1eb3ng gi\u1eefa T\u1ed5ng th\u1ed1ng M\u1ef9 v\u00e0 Ch\u1ee7 t\u1ecbch Fed l\u00ean cao. H\u1ed3i th\u00e1ng 4, \u00f4ng Trump t\u1eebng d\u1ecda sa th\u1ea3i Powell. D\u00f9 sau \u0111\u00f3 r\u00fat l\u1ea1i l\u1eddi \u0111e d\u1ecda, T\u1ed5ng th\u1ed1ng M\u1ef9 v\u1eabn t\u00ecm c\u00e1ch t\u00e1c \u0111\u1ed9ng l\u00ean c\u01a1 quan n\u1ed5i ti\u1ebfng v\u1edbi kh\u1ea3 n\u0103ng ho\u1ea1t \u0111\u1ed9ng \u0111\u1ed9c l\u1eadp n\u00e0y.<\/p>\n<p>C\u00e1c cu\u1ed9c h\u1ecdp cu\u1ed1i n\u0103m c\u1ee7a Fed v\u00ec th\u1ebf di\u1ec5n ra trong b\u1ed1i c\u1ea3nh ch\u01b0a t\u1eebng c\u00f3 ti\u1ec1n l\u1ec7, khi m\u1ed9t s\u1ed1 v\u1ecb tr\u00ed th\u00e0nh vi\u00ean H\u1ed9i \u0111\u1ed3ng Th\u1ed1ng \u0111\u1ed1c c\u00f3 s\u1ef1 thay \u0111\u1ed5i. C\u00e1c cu\u1ed9c h\u1ecdp c\u0169ng ghi nh\u1eadn \u00fd ki\u1ebfn b\u1ea5t \u0111\u1ed3ng v\u1edbi quy\u1ebft \u0111\u1ecbnh chung, l\u1ea7n \u0111\u1ea7u ti\u00ean sau nhi\u1ec1u n\u0103m. S\u1ed1 li\u1ec7u v\u0129 m\u00f4 tr\u00e1i chi\u1ec1u khi\u1ebfn c\u00f3 quan ch\u1ee9c Fed mu\u1ed1n gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t, trong khi ng\u01b0\u1eddi kh\u00e1c l\u1ea1i mu\u1ed1n gi\u1ea3m l\u00e3i s\u00e2u h\u01a1n.<\/p>\n<p>Sang n\u0103m 2026, Fed \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o tr\u1ea3i qua nhi\u1ec1u bi\u1ebfn \u0111\u1ed9ng h\u01a1n n\u1eefa, do c\u00e1c v\u1ecb tr\u00ed Ch\u1ee7 t\u1ecbch, Th\u1ed1ng \u0111\u1ed1c \u0111\u1ec1u s\u1ebd c\u00f3 thay \u0111\u1ed5i. H\u1ecd c\u0169ng s\u1ebd ti\u1ebfp t\u1ee5c \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ee9c \u00e9p duy tr\u00ec t\u00ednh \u0111\u1ed9c l\u1eadp.<\/p>\n<p><span><strong>Trung Qu\u1ed1c 2 l\u1ea7n si\u1ebft xu\u1ea5t kh\u1ea9u \u0111\u1ea5t hi\u1ebfm<\/strong><\/span><\/p>\n<figure data-size=\"true\" itemprop=\"associatedMedia image\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"> <meta itemprop=\"url\" content=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/rare-1749621058-3975-174962188-1338-2418-1766052422.jpg?w=0&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=xYva9dd5Mikfwvi1vQrixQ\"> <meta itemprop=\"width\" content=\"680\"> <meta itemprop=\"height\" content=\"431.23333333333\"> <meta itemprop=\"href\" content> <\/p>\n<div data-width=\"680\"><picture><source data-srcset=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/rare-1749621058-3975-174962188-1338-2418-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=O0smBYKXz-MqrYE7C8n5KA 1x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/rare-1749621058-3975-174962188-1338-2418-1766052422.jpg?w=1020&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=FTozlCFf8xUiLUF4AIcPTQ 1.5x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/rare-1749621058-3975-174962188-1338-2418-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=cSI0qNOZizBbfEIFhjwWcw 2x\"><img decoding=\"async\" itemprop=\"contentUrl\" loading=\"lazy\" intrinsicsize=\"680x0\" alt=\"Ho\u1ea1t \u0111\u1ed9ng khai th\u00e1c t\u1ea1i m\u1ed9t m\u1ecf \u0111\u1ea5t hi\u1ebfm \u1edf N\u1ed9i M\u00f4ng (Trung Qu\u1ed1c). \u1ea2nh: Reuters\" src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/rare-1749621058-3975-174962188-1338-2418-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=O0smBYKXz-MqrYE7C8n5KA\" previous-src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/rare-1749621058-3975-174962188-1338-2418-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=O0smBYKXz-MqrYE7C8n5KA\"> <\/picture><\/div><figcaption itemprop=\"description\">\n<p>Ho\u1ea1t \u0111\u1ed9ng khai th\u00e1c t\u1ea1i m\u1ed9t m\u1ecf \u0111\u1ea5t hi\u1ebfm \u1edf N\u1ed9i M\u00f4ng (Trung Qu\u1ed1c). \u1ea2nh: <em>Reuters<\/em><\/p>\n<\/figcaption><\/figure>\n<p>C\u0103ng th\u1eb3ng th\u01b0\u01a1ng m\u1ea1i M\u1ef9 &#8211; Trung Qu\u1ed1c lu\u00f4n c\u00f3 \u0111i\u1ec3m ngh\u1ebdn l\u1edbn, l\u00e0 \u0111\u1ea5t hi\u1ebfm. 2 n\u0103m qua, Trung Qu\u1ed1c \u0111\u00e3 d\u1ea7n h\u1ea1n ch\u1ebf b\u00e1n kho\u00e1ng s\u1ea3n n\u00e0y ra qu\u1ed1c t\u1ebf. Vi\u1ec7c n\u00e0y c\u00f3 t\u00e1c \u0111\u1ed9ng l\u1edbn, v\u00ec th\u00f4ng qua h\u00e0ng lo\u1ea1t ch\u00ednh s\u00e1ch c\u00f4ng nghi\u1ec7p, h\u1ecd \u0111\u00e3 x\u00e2y d\u1ef1ng v\u1ecb th\u1ebf g\u1ea7n nh\u01b0 \u0111\u1ed9c quy\u1ec1n v\u1edbi ngu\u1ed3n cung \u0111\u1ea5t hi\u1ebfm tr\u00ean to\u00e0n c\u1ea7u.<\/p>\n<p>H\u1ed3i th\u00e1ng 4, Trung Qu\u1ed1c l\u1ea7n \u0111\u1ea7u ti\u00ean si\u1ebft xu\u1ea5t kh\u1ea9u \u0111\u1ea5t hi\u1ebfm trong n\u0103m nay. \u0110\u00e2y \u0111\u01b0\u1ee3c coi l\u00e0 \u0111\u00f2n \u0111\u00e1p tr\u1ea3 thu\u1ebf \u0111\u1ed1i \u1ee9ng m\u00e0 \u00f4ng Trump c\u00f4ng b\u1ed1 \u0111\u1ea7u th\u00e1ng \u0111\u00f3. Vi\u1ec7c n\u00e0y g\u00e2y ra t\u00ecnh tr\u1ea1ng khan hi\u1ebfm tr\u00ean to\u00e0n c\u1ea7u, l\u00e0m x\u00e1o tr\u1ed9n chu\u1ed7i cung \u1ee9ng c\u1ee7a ng\u00e0nh xe h\u01a1i, h\u00e0ng kh\u00f4ng v\u0169 tr\u1ee5, s\u1ea3n ph\u1ea9m b\u00e1n d\u1eabn v\u00e0 qu\u1ed1c ph\u00f2ng tr\u00ean th\u1ebf gi\u1edbi.<\/p>\n<p>Sau khi hai n\u01b0\u1edbc \u0111\u1ea1t th\u1ecfa thu\u1eadn gi\u1ea3m thu\u1ebf t\u1ea1i Geneva (Th\u1ee5y S\u0129) v\u00e0o th\u00e1ng 5, quan ch\u1ee9c M\u1ef9 t\u1eebng k\u1ef3 v\u1ecdng B\u1eafc Kinh n\u1edbi l\u1ecfng quy \u0111\u1ecbnh ki\u1ec3m so\u00e1t v\u1edbi v\u1eadt li\u1ec7u n\u00e0y, nh\u01b0ng k\u1ebft qu\u1ea3 ch\u01b0a khi\u1ebfn h\u1ecd h\u00e0i l\u00f2ng.<\/p>\n<p>\u0110\u1ebfn th\u00e1ng 10, Trung Qu\u1ed1c th\u00f4ng b\u00e1o si\u1ebft \u0111\u1ea5t hi\u1ebfm l\u1ea7n th\u1ee9 2. \u0110\u1ed9ng th\u00e1i n\u00e0y khi\u1ebfn T\u1ed5ng th\u1ed1ng M\u1ef9 n\u1ed5i gi\u1eadn. M\u1ed9t ng\u00e0y sau \u0111\u00f3, \u00f4ng tuy\u00ean b\u1ed1 \u00e1p th\u00eam thu\u1ebf nh\u1eadp kh\u1ea9u 100% v\u1edbi h\u00e0ng h\u00f3a Trung Qu\u1ed1c, \u00e1m ch\u1ec9 s\u1ebd h\u1ee7y cu\u1ed9c g\u1eb7p Ch\u1ee7 t\u1ecbch Trung Qu\u1ed1c T\u1eadp C\u1eadn B\u00ecnh d\u1ef1 ki\u1ebfn v\u00e0o cu\u1ed1i th\u00e1ng \u0111\u00f3.<\/p>\n<p>D\u00f9 v\u1eady, cu\u1ed9c g\u1eb7p gi\u1eefa hai l\u00e3nh \u0111\u1ea1o v\u1eabn di\u1ec5n ra. Sau s\u1ef1 ki\u1ec7n, \u00f4ng Trump tuy\u00ean b\u1ed1 c\u0103ng th\u1eb3ng v\u1ec1 v\u1ea5n \u0111\u1ec1 \u0111\u1ea5t hi\u1ebfm &#8220;\u0111\u00e3 \u0111\u01b0\u1ee3c gi\u1ea3i quy\u1ebft&#8221;. V\u00e0i ng\u00e0y sau \u0111\u00f3, Trung Qu\u1ed1c c\u0169ng d\u1ee1 b\u1ecf m\u1ed9t ph\u1ea7n c\u00e1c h\u1ea1n ch\u1ebf, c\u1ea5p ph\u00e9p tr\u1edf l\u1ea1i cho ho\u1ea1t \u0111\u1ed9ng xu\u1ea5t kh\u1ea9u \u0111\u1ea5t hi\u1ebfm c\u1ee7a c\u00e1c doanh nghi\u1ec7p trong n\u01b0\u1edbc.<\/p>\n<p><span><strong>M\u1ef9 &#8211; Trung \u0111\u1ea1t th\u1ecfa thu\u1eadn b\u00e1n Tiktok<\/strong><\/span><\/p>\n<figure data-size=\"true\" itemprop=\"associatedMedia image\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"> <meta itemprop=\"url\" content=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/tiktok-reu-1737270374-8750-173-2449-9075-1766052422.jpg?w=0&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=BxiGsJL_WsfsXwMfyJGnrQ\"> <meta itemprop=\"width\" content=\"680\"> <meta itemprop=\"height\" content=\"408\"> <meta itemprop=\"href\" content> <\/p>\n<div data-width=\"680\"><picture><source data-srcset=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/tiktok-reu-1737270374-8750-173-2449-9075-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=ThN4v3Ljy1e7Kr9D-ztH_A 1x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/tiktok-reu-1737270374-8750-173-2449-9075-1766052422.jpg?w=1020&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=W_wfmWqxbh2OzXv1FplOzA 1.5x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/tiktok-reu-1737270374-8750-173-2449-9075-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=RuiyNNfUwygaQNcozqgg-w 2x\"><img decoding=\"async\" itemprop=\"contentUrl\" loading=\"lazy\" intrinsicsize=\"680x0\" alt=\"Logo TikTok hi\u1ec3n th\u1ecb tr\u00ean m\u1ed9t m\u00e0n h\u00ecnh \u0111i\u1ec7n tho\u1ea1i \u0111\u01b0\u1ee3c ch\u1ee5p h\u1ed3i th\u00e1ng 8\/2022. \u1ea2nh: Reuters\" src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/tiktok-reu-1737270374-8750-173-2449-9075-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=ThN4v3Ljy1e7Kr9D-ztH_A\" previous-src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/tiktok-reu-1737270374-8750-173-2449-9075-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=ThN4v3Ljy1e7Kr9D-ztH_A\"> <\/picture><\/div><figcaption itemprop=\"description\">\n<p>Logo TikTok hi\u1ec3n th\u1ecb tr\u00ean m\u1ed9t m\u00e0n h\u00ecnh \u0111i\u1ec7n tho\u1ea1i \u0111\u01b0\u1ee3c ch\u1ee5p h\u1ed3i th\u00e1ng 8\/2022. \u1ea2nh: <em>Reuters<\/em><\/p>\n<\/figcaption><\/figure>\n<p>C\u0169ng nh\u01b0 \u0111\u1ea5t hi\u1ebfm, \u1ee9ng d\u1ee5ng video ng\u1eafn <a href=\"https:\/\/vnexpress.net\/chu-de\/tiktok-1547\" rel=\"dofollow\">TikTok <\/a>l\u00e0 \u0111i\u1ec3m ngh\u1ebdn trong quan h\u1ec7 M\u1ef9 &#8211; Trung Qu\u1ed1c v\u00e0i n\u0103m qua. S\u1ed1 ph\u1eadn c\u1ee7a \u1ee9ng d\u1ee5ng n\u00e0y b\u1ecb \u0111e d\u1ecda t\u1eeb nhi\u1ec7m k\u1ef3 \u0111\u1ea7u ti\u00ean c\u1ee7a \u00f4ng Trump, khi \u00f4ng y\u00eau c\u1ea7u ByteDance &#8211; c\u00f4ng ty m\u1eb9 TikTok b\u00e1n l\u1ea1i m\u1ea3ng kinh doanh \u1edf M\u1ef9 v\u1edbi l\u00fd do \u0111e d\u1ecda an ninh qu\u1ed1c gia. TikTok l\u00e0 \u1ee9ng d\u1ee5ng ph\u1ed5 bi\u1ebfn t\u1ea1i M\u1ef9, v\u1edbi kho\u1ea3ng 170 tri\u1ec7u ng\u01b0\u1eddi d\u00f9ng t\u1ea1i \u0111\u00e2y.<\/p>\n<p>N\u0103m ngo\u00e1i, c\u1ef1u T\u1ed5ng th\u1ed1ng M\u1ef9 Joe Biden k\u00fd s\u1eafc l\u1ec7nh bu\u1ed9c ByteDance tho\u00e1i v\u1ed1n kh\u1ecfi TikTok ho\u1eb7c \u1ee9ng d\u1ee5ng video ng\u1eafn s\u1ebd b\u1ecb c\u1ea5m t\u1ea1i M\u1ef9 tr\u01b0\u1edbc ng\u00e0y 20\/1. Tuy nhi\u00ean, sau khi nh\u1eadm ch\u1ee9c, \u00f4ng Trump nhi\u1ec1u l\u1ea7n gia h\u1ea1n th\u1eddi \u0111i\u1ec3m n\u00e0y, th\u1ec3 hi\u1ec7n quan \u0111i\u1ec3m th\u00e2n thi\u1ec7n h\u01a1n so v\u1edbi nhi\u1ec7m k\u1ef3 \u0111\u1ea7u.<\/p>\n<p>TikTok th\u1eadm ch\u00ed \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o \u0111\u00e0m ph\u00e1n th\u1ecfa thu\u1eadn th\u01b0\u01a1ng m\u1ea1i gi\u1eefa hai n\u1ec1n kinh t\u1ebf l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi. Qu\u00e1 tr\u00ecnh \u0111\u00e0m ph\u00e1n k\u00e9o d\u00e0i nhi\u1ec1u th\u00e1ng, ch\u1ecbu \u1ea3nh h\u01b0\u1edfng b\u1edfi c\u0103ng th\u1eb3ng th\u01b0\u01a1ng m\u1ea1i leo thang v\u00e0 lo ng\u1ea1i an ninh d\u1eef li\u1ec7u. \u0110\u1ebfn ng\u00e0y 25\/9, \u00f4ng Trump k\u00fd s\u1eafc l\u1ec7nh b\u00e1n m\u1ea3ng kinh doanh c\u1ee7a TikTok t\u1ea1i M\u1ef9 cho nh\u00e0 \u0111\u1ea7u t\u01b0 M\u1ef9, ch\u1ea5m d\u1ee9t tranh c\u00e3i nhi\u1ec1u n\u0103m qua v\u1ec1 v\u1ea5n \u0111\u1ec1 s\u1edf h\u1eefu.<\/p>\n<p>Theo \u0111\u00f3, ByteDance s\u1ebd ch\u1ec9 n\u1eafm d\u01b0\u1edbi 20% c\u1ed5 ph\u1ea7n TikTok M\u1ef9. C\u00f4ng ty n\u00e0y ch\u1ec9 \u0111\u01b0\u1ee3c b\u1ed5 nhi\u1ec7m 1 trong 7 th\u00e0nh vi\u00ean H\u0110QT c\u00f4ng ty m\u1edbi, v\u00e0 6 gh\u1ebf c\u00f2n l\u1ea1i do ng\u01b0\u1eddi M\u1ef9 n\u1eafm gi\u1eef. C\u00f4ng ty m\u1edbi c\u1ee7a TikTok t\u1ea1i M\u1ef9 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 14 t\u1ef7 USD &#8211; th\u1ea5p h\u01a1n kh\u00e1 nhi\u1ec1u so v\u1edbi \u01b0\u1edbc t\u00ednh c\u1ee7a gi\u1edbi ph\u00e2n t\u00edch.<\/p>\n<p><span><strong>Moody\u2019s h\u1ea1 x\u1ebfp h\u1ea1ng t\u00edn nhi\u1ec7m M\u1ef9<\/strong><\/span><\/p>\n<figure data-size=\"true\" itemprop=\"associatedMedia image\" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"> <meta itemprop=\"url\" content=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/2025-09-30T234240Z-1623734897-7749-9235-1766052422.jpg?w=0&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=YrMIU_OC_fadrrWafoFtuQ\"> <meta itemprop=\"width\" content=\"680\"> <meta itemprop=\"height\" content=\"470\"> <meta itemprop=\"href\" content> <\/p>\n<div data-width=\"680\"><picture><source data-srcset=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/2025-09-30T234240Z-1623734897-7749-9235-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=xQvQ6uoX5iaDWeSjPcCOEQ 1x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/2025-09-30T234240Z-1623734897-7749-9235-1766052422.jpg?w=1020&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=uvpSqYFVvSVoJLyjL-dm2w 1.5x, https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/2025-09-30T234240Z-1623734897-7749-9235-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=2&#038;fit=crop&#038;s=Xr_zFK2Xp8NL-3-RS1nY8A 2x\"><img decoding=\"async\" itemprop=\"contentUrl\" loading=\"lazy\" intrinsicsize=\"680x0\" alt=\"L\u00e3nh \u0111\u1ea1o \u0111\u1ea3ng D\u00e2n ch\u1ee7 t\u1ea1i Th\u01b0\u1ee3ng vi\u1ec7n Chuck Schumer c\u00fai \u0111\u1ea7u khi h\u1ecdp b\u00e1o t\u1ea1i \u0110\u1ed3i Capitol ng\u00e0y 30\/9. \u1ea2nh: Reuters\" src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/2025-09-30T234240Z-1623734897-7749-9235-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=xQvQ6uoX5iaDWeSjPcCOEQ\" previous-src=\"https:\/\/vcdn1-kinhdoanh.vnecdn.net\/2025\/12\/18\/2025-09-30T234240Z-1623734897-7749-9235-1766052422.jpg?w=680&#038;h=0&#038;q=100&#038;dpr=1&#038;fit=crop&#038;s=xQvQ6uoX5iaDWeSjPcCOEQ\"> <\/picture><\/div><figcaption itemprop=\"description\">\n<p>L\u00e3nh \u0111\u1ea1o \u0111\u1ea3ng D\u00e2n ch\u1ee7 t\u1ea1i Th\u01b0\u1ee3ng vi\u1ec7n Chuck Schumer c\u00fai \u0111\u1ea7u khi h\u1ecdp b\u00e1o t\u1ea1i \u0110\u1ed3i Capitol ng\u00e0y 30\/9. \u1ea2nh: <em>Reuters<\/em><\/p>\n<\/figcaption><\/figure>\n<p>Ng\u00e0y 16\/5, h\u00e3ng \u0111\u00e1nh gi\u00e1 t\u00edn nhi\u1ec7m Moody\u2019s th\u00f4ng b\u00e1o h\u1ea1 m\u1ed9t b\u1eadc x\u1ebfp h\u1ea1ng t\u00edn nhi\u1ec7m c\u1ee7a M\u1ef9, t\u1eeb m\u1ee9c cao nh\u1ea5t l\u00e0 Aaa xu\u1ed1ng Aa1. H\u00e3ng gi\u1ea3i th\u00edch c\u00e1c \u0111\u1eddi ch\u00ednh ph\u1ee7 v\u00e0 Qu\u1ed1c h\u1ed9i c\u1ee7a M\u1ef9 \u0111\u00e3 kh\u00f4ng th\u1ec3 th\u1ed1ng nh\u1ea5t v\u1ec1 nh\u1eefng ch\u00ednh s\u00e1ch nh\u1eb1m \u0111\u1ea3o ng\u01b0\u1ee3c xu h\u01b0\u1edbng t\u0103ng th\u00e2m h\u1ee5t t\u00e0i kh\u00f3a v\u00e0 ti\u1ec1n tr\u1ea3 l\u00e3i.<\/p>\n<p>\u0110\u00e2y \u0111\u01b0\u1ee3c coi l\u00e0 \u0111\u1ed9ng th\u00e1i l\u1ecbch s\u1eed, v\u00ec l\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean c\u00f4ng ty n\u00e0y h\u1ea1 x\u1ebfp h\u1ea1ng c\u1ee7a M\u1ef9. \u0110\u00e2y c\u0169ng l\u00e0 l\u1ea7n \u0111\u1ea7u M\u1ef9 b\u1ecb c\u1ea3 ba h\u00e3ng x\u1ebfp h\u1ea1ng t\u00edn nhi\u1ec7m l\u1edbn \u0111\u00e1nh t\u1ee5t t\u00edn d\u1ee5ng. Fitch l\u00e0m \u0111i\u1ec1u n\u00e0y th\u00e1ng 8\/2023, do nh\u1eefng cu\u1ed9c \u0111\u00e0m ph\u00e1n tr\u1ea7n n\u1ee3 k\u00e9o d\u00e0i \u0111\u1ebfn ph\u00fat ch\u00f3t l\u00e0m d\u1ea5y l\u00ean lo ng\u1ea1i v\u1ec1 kh\u1ea3 n\u0103ng thanh to\u00e1n c\u1ee7a ch\u00ednh ph\u1ee7. Standard &#038; Poor&#8217;s th\u00ec g\u1ee1 m\u1ee9c x\u1ebfp h\u1ea1ng cao nh\u1ea5t c\u1ee7a M\u1ef9 t\u1eeb n\u0103m 2011, sau cu\u1ed9c kh\u1ee7ng ho\u1ea3ng tr\u1ea7n n\u1ee3 c\u00f4ng n\u0103m \u0111\u00f3.<\/p>\n<p>D\u00f9 h\u00e0ng lo\u1ea1t quan ch\u1ee9c M\u1ef9 l\u00ean ti\u1ebfng ch\u1ec9 tr\u00edch quy\u1ebft \u0111\u1ecbnh c\u1ee7a Moody\u2019s, th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n M\u1ef9 v\u1eabn b\u1ecb b\u00e1n th\u00e1o sau tin t\u1ee9c n\u00e0y. L\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 M\u1ef9 k\u1ef3 h\u1ea1n 30 n\u0103m c\u0169ng l\u00ean h\u01a1n 5%.<\/p>\n<p>Tuy kh\u00f4ng g\u00e2y c\u00fa s\u1ed1c l\u1edbn nh\u01b0 nh\u1eefng l\u1ea7n h\u1ea1 b\u1eadc tr\u01b0\u1edbc \u0111\u00e2y, \u0111\u1ed9ng th\u00e1i c\u1ee7a Moody\u2019s c\u0169ng s\u1ebd l\u00e0m suy gi\u1ea3m v\u1ecb th\u1ebf t\u00e0i s\u1ea3n kh\u00f4ng r\u1ee7i ro c\u1ee7a tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 M\u1ef9, \u0111\u1ea9y l\u1ee3i su\u1ea5t d\u00e0i h\u1ea1n l\u00ean cao h\u01a1n v\u00e0 c\u00e0ng l\u00e0m t\u0103ng chi ph\u00ed vay c\u1ee7a ch\u00ednh ph\u1ee7. \u0110\u00e2y c\u0169ng \u0111\u01b0\u1ee3c coi l\u00e0 l\u1eddi c\u1ea3nh b\u00e1o r\u1eb1ng n\u1ebfu kh\u00f4ng ki\u1ec3m so\u00e1t \u0111\u01b0\u1ee3c n\u1ee3 c\u00f4ng v\u00e0 c\u00e1c b\u1ea5t \u0111\u1ed3ng ch\u00ednh tr\u1ecb trong n\u01b0\u1edbc, v\u1ecb th\u1ebf trung t\u00e2m t\u00e0i ch\u00ednh h\u00e0ng \u0111\u1ea7u c\u1ee7a M\u1ef9 c\u00f3 th\u1ec3 b\u1ecb \u0111e d\u1ecda.<\/p>\n<p><strong>H\u00e0 Thu<\/strong> <em>(t\u1ed5ng h\u1ee3p)<\/em><\/p>\n<p><span id=\"article-end\"><\/span>     <\/p>",
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