Trade Tensions Rise: U.S. Moves to Impose Tariffs on Vietnam

The U.S. plans to impose tariffs on nearly all Vietnamese exports, totaling $142 billion. Vietnam faces U.S. pressure to reduce trade imbalances through increased imports and tariff adjustments. Potential measures include energy imports, agricultural trade, defense deals, and addressing anti-dumping issues.

President Donald Trump has proposed new tariffs potentially targeting nearly all of Vietnam's exports to the U.S., a market that accounted for over $142 billion last year. This move has sparked concern among Vietnamese officials and foreign businesses about the impact of the U.S.'s protectionist strategies.

Vietnam benefited from the U.S.-China trade war during Trump's first term, yet now faces challenges due to its significant trade surplus with the U.S. and possible reciprocal tariffs. Vietnamese authorities are considering or suggesting measures to avert these tariffs, which encompass tariff adjustments and increasing energy imports.

Amid ongoing talks for buying U.S. defense equipment and sectoral developments like Starlink's satellite services, Vietnam is also addressing anti-dumping actions to protect its market position. The country continues to navigate its status as a currency manipulator while potentially allowing a more flexible exchange rate.

(With inputs from agencies.)