VIETNAMESE imports from China and exports to the United States both reached a post-Covid high in April, reports Reuters.
As talks with Washington to reduce Hanoi's trade surplus and a crackdown on Chinese goods being shipped to the US via its territory, Vietnam faces the risk of 46 per cent duties on its exports to the US.
If the White House confirms this rate at the end of a global tariff pause in July, this could undermine Vietnam's growth model and hit multinationals exporting from the country, including Samsung and Nike.
Hanoi has made multiple offers to the Trump administration to avoid high levies, including clamping down on illegal transshipment of Chinese goods to the US via Vietnam. Goods benefit from lower tariffs if labelled as 'Made in Vietnam'.
However, trade trends that have attracted US criticism are accelerating, potentially complicating Vietnam's efforts to extract US concessions in ongoing trade talks.
The Trump administration wants to reduce trade imbalances, but Vietnam's surplus with the United States - already one of the highest globally - expanded by nearly 25 per cent in the four months to April year on year, according to Vietnam's statistics agency.
SeaNews Turkey
As talks with Washington to reduce Hanoi's trade surplus and a crackdown on Chinese goods being shipped to the US via its territory, Vietnam faces the risk of 46 per cent duties on its exports to the US.
If the White House confirms this rate at the end of a global tariff pause in July, this could undermine Vietnam's growth model and hit multinationals exporting from the country, including Samsung and Nike.
Hanoi has made multiple offers to the Trump administration to avoid high levies, including clamping down on illegal transshipment of Chinese goods to the US via Vietnam. Goods benefit from lower tariffs if labelled as 'Made in Vietnam'.
However, trade trends that have attracted US criticism are accelerating, potentially complicating Vietnam's efforts to extract US concessions in ongoing trade talks.
The Trump administration wants to reduce trade imbalances, but Vietnam's surplus with the United States - already one of the highest globally - expanded by nearly 25 per cent in the four months to April year on year, according to Vietnam's statistics agency.
SeaNews Turkey
