President-elect Donald Trump’s focus on reducing the U.S. trade deficit signals a heightened scrutiny on the origins of imported goods. For Vietnam, this means taking proactive steps to avoid being seen as a mere transit hub for Chinese products entering the U.S., which could result in higher tariffs. With proposed tariffs ranging from 10% to 20% on foreign goods and up to 60% on Chinese goods, Trump’s election victory presents an opportunity for Vietnamese exports to expand in the U.S. market. This shift could make Vietnamese products more appealing to American importers looking to diversify away from Chinese goods. However, industry experts caution that Vietnam might encounter challenges due to foreign direct investment. Some foreign companies could invest in Vietnam with the intent to bypass U.S. regulations on origin, positioning Vietnam as a workaround for high tariffs on Chinese products. Potential benefits for Vietnamese exports Nghia Son Furniture, which sends 50% of its exports to the U.S., sees the recent U.S. presidential election as a potential turning point. Huynh Le Dai Thang, the company’s director, believes that President-elect Trump’s focus on import tariff hikes could lead U.S. importers to look for cost-effective suppliers, benefiting companies like Nghia Son. With Trump’s […]
President-elect Donald Trump’s focus on reducing the U.S. trade deficit signals a heightened scrutiny on the origins of imported goods. For Vietnam, this means taking proactive steps to avoid being seen as a mere transit hub for Chinese products entering the U.S., which could result in higher tariffs. With proposed tariffs ranging from 10% to 20% on foreign goods and up to 60% on Chinese goods, Trump’s election victory presents an opportunity for Vietnamese exports to expand in the U.S. market. This shift could make Vietnamese products more appealing to American importers looking to diversify away from Chinese goods. However, industry experts caution that Vietnam might encounter challenges due to foreign direct investment. Some foreign companies could invest in Vietnam with the intent to bypass U.S. regulations on origin, positioning Vietnam as a workaround for high tariffs on Chinese products. Potential benefits for Vietnamese exports Nghia Son Furniture, which sends 50% of its exports to the U.S., sees the recent U.S. presidential election as a potential turning point. Huynh Le Dai Thang, the company’s director, believes that President-elect Trump’s focus on import tariff hikes could lead U.S. importers to look for cost-effective suppliers, benefiting companies like Nghia Son. With Trump’s […]
President-elect Donald Trump’s focus on reducing the U.S. trade deficit signals a heightened scrutiny on the origins of imported goods. For Vietnam, this means taking proactive steps to avoid being seen as a mere transit hub for Chinese products entering the U.S., which could result in higher tariffs. With proposed tariffs ranging from 10% to 20% on foreign goods and up to 60% on Chinese goods, Trump’s election victory presents an opportunity for Vietnamese exports to expand in the U.S. market. This shift could make Vietnamese products more appealing to American importers looking to diversify away from Chinese goods. However, industry experts caution that Vietnam might encounter challenges due to foreign direct investment. Some foreign companies could invest in Vietnam with the intent to bypass U.S. regulations on origin, positioning Vietnam as a workaround for high tariffs on Chinese products. Potential benefits for Vietnamese exports Nghia Son Furniture, which sends 50% of its exports to the U.S., sees the recent U.S. presidential election as a potential turning point. Huynh Le Dai Thang, the company’s director, believes that President-elect Trump’s focus on import tariff hikes could lead U.S. importers to look for cost-effective suppliers, benefiting companies like Nghia Son. With Trump’s […]
HCMC - Vietnam's Party General Secretary To Lam held a phone conversation with U.S. President-elect Donald Trump last night, November 11.
Lam congratulated Trump on...
As the United States and Vietnam mark the first anniversary of their Comprehensive Strategic Partnership and 30 years of the normalization of relations, Arun...
HCMC - Vietnamese leaders have sent their congratulations to Donald Trump on his election as President of the U.S.
Following Trump's re-election as 47th President...
HCMC – Elon Musk’s SpaceX has announced plans to invest US$1.5 billion in Vietnam, recognizing the country's potential for the growth of its satellite...
HCMC – Vietnam and the U.S. have great potential to further strengthen their bilateral ties, bringing greater benefits to their people and contributing to...
HCMC – Vietnam and the U.S. hold significant potential for cooperation in the semiconductor and artificial intelligence (AI) industries, especially following the recent upgrade...
HCMC – Vietnam has expressed disappointment after the U.S. Department of Commerce once again declined to recognize the Southeast Asian nation as a market...