By takumihamano 
Vietnam’s export sector has been a significant driver of the country’s economic growth, with the United States being one of its largest markets. However, recent developments have posed both challenges and opportunities for Vietnamese exporters.
- US Tariff Impact: Vietnam faces a 46% reciprocal tariff rate imposed by the US, effective from April 8, 2025. This tariff affects multiple industries, including wood, seafood, electronics, footwear, and textiles. The Vietnamese government has requested a 1-3 month delay in tariff implementation to facilitate negotiations and mitigate the impact on its export sector. (Source: https://cafef.vn/de-nghi-my-tam-hoan-ap-thue-tu-1-den-3-thang-188250405072929026.chn)
-
Trade Growth: Despite the tariff challenges, Vietnam’s total import/export value reached USD 786.29 billion in 2024, marking a 15.4% increase from 2023. Exports rose by 14.3%, and imports by 16.7%, resulting in a USD 24.77 billion trade surplus. This growth underscores the resilience and competitiveness of Vietnamese products in the global market. (Source: https://thoibaotaichinhvietnam.vn/giai-phap-huu-hieu-mo-rong-thi-truong-xuat-khau-174405.html)
-
Strategic Partnerships: Vietnam has been proactive in strengthening its trade relationships. The country has signed and implemented 17 Free Trade Agreements (FTAs) with major global partners, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK-Vietnam Free Trade Agreement (UKVFTA). These agreements aim to diversify markets, products, and supply chains, reducing dependency on any single partner. (Source: https://vnexpress.net/thu-tuong-khong-hoi-nhap-bang-moi-gia-hay-phu-thuoc-bat-ky-doi-tac-nao-4871512.html)
-
Logistics and Infrastructure: Investment in modern logistics infrastructure and the application of digital technology are crucial for maintaining Vietnam’s position as a regional manufacturing and trading hub. The country is also focusing on sustainable development standards to meet stricter regulations from the EU and US on green supply chains and ESG (environmental, social, and governance) compliance. (Source: https://thoibaotaichinhvietnam.vn/giai-phap-huu-hieu-mo-rong-thi-truong-xuat-khau-174405.html)
-
Bilateral Discussions: Vietnam and the US are seeking bilateral discussions to address the tariff issue. The Vietnamese Ministry of Industry and Trade (MOIT) is exploring solutions to mitigate the impact of the US tariffs, aiming for a mutually beneficial outcome. (Source: https://vneconomy.vn/viet-nam-gui-cong-ham-de-nghi-hoa-ky-tam-hoan-ap-sac-lenh-thue-doi-ung.htm)
In summary, while the new US tariffs present a significant challenge for Vietnam’s export sector, the country is actively seeking solutions through negotiations and strategic partnerships. The resilience of Vietnam’s trade growth, coupled with investments in logistics and adherence to international standards, positions the country to navigate these challenges and continue its trajectory of economic growth.