The textile and garment industry faces growing risks due to new U.S. tariff policy and an unpredictable, unstable global trade environment. Vietnam should adopt sustainable measures to navigate these challenges. The Saigon Times has gathered insights from Associate Professor Rajkishore Nayak, lecturer in the Bachelor of Fashion (Enterprise) program, and Ms. Corinna Joyce, program manager of the Bachelor of Fashion (Enterprise), both from RMIT University Vietnam. Promoting nearshoring The Saigon Times: Textile and garment is one of Vietnam’s key export industries but it is vulnerable, not only due to the new U.S. tariff policy but also due to the U.S.-China trade conflict. What do you think about the current situation of the textile and garment industry – exporting large volumes to the U.S. and importing most raw materials and accessories from China? Rajkishore Nayak: The textile and garment sector plays a significant role in Vietnam’s economic growth, consistently ranking among the top industries in terms of labor demand and export revenue (reaching US$44 billion in 2024). The U.S. is the number one export destination for Vietnamese textile and garment products, accounting for 38% last year. Therefore, changes in the U.S. tariff policy will have big implications for the performance of […]
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