HCMC – The American Chamber of Commerce in Vietnam (AmCham Vietnam) has voiced concerns about the new U.S. trade policy, noting that its abrupt implementation creates uncertainty and could disrupt businesses operating in Vietnam.
The size and immediacy of the 46% reciprocal tariff on imports from Vietnam are wholly inconsistent with the goals of promoting trade and investment between the U.S. and Vietnam through free and fair trade practices and economic policies that support productivity and predictability, it said.
While AmCham recognizes the need to address the trade deficit, it urges the U.S. Government to allow a grace period for businesses to adapt. Immediate implementation offers no time to adjust, disrupting operations and undermining prior commercial decisions.
The chamber believes that the U.S. and the Vietnamese Government are aligned on the fact that the growth in the trade deficit is simply not sustainable. The U.S. administration has made clear that one of the goals of the reciprocal tariffs is to bring greater reciprocity to the tariff rates each country applies to the other.
Amcham would welcome lower tariffs on U.S. goods entering Vietnam as one way of addressing the trade imbalance, and of significantly reducing the reciprocal tariffs.
Tariffs on U.S. goods should at least be equal to those applied to Vietnam’s other trading partners and to those applied to Vietnamese goods entering the U.S.
It is hopeful that both countries can align on reduced rates to levels both view as reciprocal so that we can continue the trade relationship that has benefited all participants.
Ultimately, AmCham members require certainty and stability to operate effectively, asking both governments to expedite negotiations aimed at reducing these tariffs to the lowest possible levels.
In this spirit, AmCham stands ready to provide constructive input and facilitate dialogue between the U.S. and Vietnamese governments to improve the trade relationship.
