Continuous and abrupt changes in tariffs since U.S. President Donald Trump was re-elected for a second term have placed Vietnamese businesses on edge. Trump’s implementation of a series of new tariff policies aimed at protecting the U.S. economy, reducing trade deficits, and boosting local manufacturing has made the already-tough U.S. market even tougher. It is evident that the new U.S. tariff policies have not only sparked mixed reactions within the U.S. but also deeply impacted its trade partners, including Vietnam, one of the largest exporters to the U.S. Vietnamese businesses are facing significant concerns and challenges in maintaining market share in this market. So, what have they done and are doing to find solutions to adapt to the changing U.S. tariff policies? Significant challenges The possibility of facing additional tariffs is very high. Although Vietnam has not been explicitly targeted in recent U.S. tariffs like Canada, Mexico, China, or the EU, Vietnam’s huge trade surplus with the U.S., which amounted to nearly US$110 billion in 2024, puts Vietnam at risk of becoming the next direct target of these new measures. According to some businesses, including direct exporters to the U.S. market such as May Son Viet Joint Stock Company, and […]
To read more, please click here.
