US IMPOSES 46% COUNTERVAILING DUTY ON VIETNAMESE GOODS

On April 2, 2025, U.S. President Donald Trump announced a 46% tariff on imports from Vietnam, one of the highest rates applied to any U.S. trade partner. This move aims to reduce the U.S. trade deficit and protect domestic industries.

Impact on Vietnam’s Key Export Sectors

The 46% tariff is expected to have a severe impact on several major Vietnamese export industries:

Textiles and Footwear: Companies such as May Sông Hồng (MSH), TNG, Vinatex (VGT), and Thành Công (TCM) are likely to suffer significant losses, as the U.S. market accounts for 25-80% of their revenue.
Seafood: Leading exporters like Vĩnh Hoàn Corporation (VHC) and Minh Phú Corporation (MPC) may lose a substantial market share in the U.S., affecting their sales and profitability.
Wood and Furniture: Businesses such as SAV and PTB face revenue risks, as the U.S. is their largest market, contributing up to 60% of export value.
Electronics and Components: Major corporations like Samsung and Intel may need to adjust their production and business strategies in Vietnam.

U.S. President Donald Trump announced a 46% tariff on imports from Vietnam

Response from Vietnamese Businesses and Government

In response to this situation, Vietnamese businesses are exploring diversification strategies, seeking opportunities in the EU, Japan, and ASEAN to reduce dependence on the U.S. market. Meanwhile, the Vietnamese government is actively negotiating with U.S. authorities to mitigate the adverse effects of the new tariff policy.

Conclusion

The imposition of a 46% tariff on Vietnamese goods presents significant challenges for the country’s economy and export sector. To navigate these difficulties, close cooperation between businesses and the government is crucial in identifying new markets and adjusting business strategies.

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