U.S. and Vietnam Appeal for Tariff Delay to Safeguard Bilateral Trade

U.S. and Vietnamese businesses urge a delay to the planned 46% tariff on Vietnamese goods, citing economic harm. Major trade bodies stress lower tariffs benefit U.S companies and consumers. Trump and Vietnam's leader To Lam discuss potential resolutions, with Vietnam already making trade concessions.

U.S. and Vietnamese businesses are appealing to delay a proposed 46% tariff on Vietnamese goods, claiming the levy would harm commercial relations and adversely affect both economies.

The Vietnam Chamber of Commerce and Industry and the American Chamber of Commerce in Hanoi expressed their concerns in a letter to Commerce Secretary Howard Lutnick, describing the planned tariff as 'shockingly high.'

They advocated for lower tariffs, citing expected benefits for American companies and consumers. Amid ongoing negotiations following a call between President Donald Trump and Vietnamese leader To Lam, Vietnam has already initiated some trade concessions, including duty cuts and pledges to purchase American products.

(With inputs from agencies.)