🎧 Listen to This Article
Vietnam’s trade surplus with the US reached $123.5 billion in 2024, an 18% increase from the previous year. This puts the Southeast Asian nation at risk of facing tariffs from the US, with Vietnam now holding the third-largest surplus with America, behind only China and Mexico
Vietnam, heavily dependent on trade, saw its exports surge following the US-China trade war as businesses moved production to Vietnam. However, President Trump has historically targeted countries with large surpluses for tariff increases, a policy that could potentially affect Vietnam’s exports.
Prime Minister Pham Minh Chinh warned that US trade policies, including possible tariffs, might significantly challenge Vietnam’s export sector in 2025. Additionally, retaliatory tariffs could further complicate the nation’s trade activities.
To ease tensions, Vietnam has been balancing its relationships with both China and the US, with plans to purchase more US goods like Boeing aircraft. Prime Minister Chinh also expressed a willingness to engage with Trump to improve bilateral ties.
For further details, clarification, contributions, or any concerns regarding this article, please contact us at editorial@tax.news. We value your feedback and are committed to providing accurate and timely information. Please note that our privacy policy will handle all inquiries
