If seen in a positive light, United States President Donald Trump’s reciprocal tariff policy could serve as a wake-up call, and compel Vietnam to shift its growth model and restructure its growth drivers A wake-up call Few could have anticipated that the U.S. would impose a sweeping reciprocal tariff of 46% on goods imports from Vietnam. Previous forecasts suggested Vietnam might face a tariff of just 10%, or 20% at most. However, with the calculations largely based on the size of the U.S. trade deficit with each country, a method that has sparked much debate, Vietnam is among the countries that were hit with the highest tariffs. The Vietnamese Government promptly reached out to the U.S., proposing a delay in the implementation of the new tariff to allow time to seek a reciprocal trade agreement and find a trade balancing solution. Nonetheless, this development serves as a timely alert for Vietnam about the risks of an overly open economy, heavily concentrated on a few trade partners and reliant on foreign direct investment (FDI) firms for growth. Since its accession to the World Trade Organization (WTO) over 18 years ago, Vietnam has become fertile ground for multinational corporations seeking to leverage […]
If seen in a positive light, United States President Donald Trump’s reciprocal tariff policy could serve as a wake-up call, and compel Vietnam to shift its growth model and restructure its growth drivers A wake-up call Few could have anticipated that the U.S. would impose a sweeping reciprocal tariff of 46% on goods imports from Vietnam. Previous forecasts suggested Vietnam might face a tariff of just 10%, or 20% at most. However, with the calculations largely based on the size of the U.S. trade deficit with each country, a method that has sparked much debate, Vietnam is among the countries that were hit with the highest tariffs. The Vietnamese Government promptly reached out to the U.S., proposing a delay in the implementation of the new tariff to allow time to seek a reciprocal trade agreement and find a trade balancing solution. Nonetheless, this development serves as a timely alert for Vietnam about the risks of an overly open economy, heavily concentrated on a few trade partners and reliant on foreign direct investment (FDI) firms for growth. Since its accession to the World Trade Organization (WTO) over 18 years ago, Vietnam has become fertile ground for multinational corporations seeking to leverage […]
If seen in a positive light, United States President Donald Trump’s reciprocal tariff policy could serve as a wake-up call, and compel Vietnam to shift its growth model and restructure its growth drivers A wake-up call Few could have anticipated that the U.S. would impose a sweeping reciprocal tariff of 46% on goods imports from Vietnam. Previous forecasts suggested Vietnam might face a tariff of just 10%, or 20% at most. However, with the calculations largely based on the size of the U.S. trade deficit with each country, a method that has sparked much debate, Vietnam is among the countries that were hit with the highest tariffs. The Vietnamese Government promptly reached out to the U.S., proposing a delay in the implementation of the new tariff to allow time to seek a reciprocal trade agreement and find a trade balancing solution. Nonetheless, this development serves as a timely alert for Vietnam about the risks of an overly open economy, heavily concentrated on a few trade partners and reliant on foreign direct investment (FDI) firms for growth. Since its accession to the World Trade Organization (WTO) over 18 years ago, Vietnam has become fertile ground for multinational corporations seeking to leverage […]
Despite global trade headwinds, HCMC has reaffirmed its GRDP growth target of 8.5% for 2025, with hopes of reaching double-digit growth if conditions allow....
Vietnamese businesses and experts will discuss the impact of U.S. tariff adjustments and explore response strategies in a live talk show on March 19,...
Environmental factors, global geopolitical tensions, and the capacity for self-upgrade are the three major uncertainties Vietnam is facing at the moment. Deciphering these intertwined...
Vietnam's automotive market is increasingly challenged by the reduction of import duties on cars from the countries with which Vietnam has signed free trade...
As economic cooperation between Vietnam and Australia continues to flourish, both nations are eager to seize further opportunities for joint ventures.
Sarah Hooper, Australian Consul...
HCMC – The Ministry of Industry and Trade (MOIT) is urging relevant departments to explore opportunities for expanding export markets for Vietnamese rice.
The request...