Hoai said the US's proposed reciprocal tariff of 46% on imports from Vietnam can have significant and multifaceted impacts on the Southeast Asian country’s exports and economic growth in the near future.

President Donald Trump blasted China for retaliating against his sweeping tariff plan and vowed his economic policies “will never change”, as the prospect of a trade war wreaked more havoc on the global economy.

US customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.

Michael Kokalari, Chief Economist at VinaCapital, described the April 2 announcement of ‘reciprocal tariffs’ as “completely unexpected”. “Based on our analysis, these tariffs will make it difficult for Vietnam to achieve its 8% GDP growth target,” he said.

Vietnam’s garment and textile industry enterprises are voicing growing concern over a newly announced 46 per cent US tariff, stressing that the industry plays a complementary–not competitive–role in the US market.

Minister of Agriculture and Environment Do Duc Duy chaired a meeting with relevant authorities and several businesses and export associations focused on key agricultural exports to the US on the afternoon of April 7, in Hanoi.

Companies and industries should observe VN-US tariff talks.

PM Pham Minh Chinh asked the negotiation delegation to propose the US consider postponing the imposition of the new tariff policy for at least 45 days so that the two sides have more time to discuss and prepare for status transition.

On the evening of 04 April 2025, His Excellency To Lam, General Secretary of the Communist Party of Viet Nam had a phone call with The Honorable Donald J. Trump, President of the United States of America on the Viet Nam – U.S. relations.

China’s Finance Ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10, following duties imposed by U.S. President Donald Trump’s administration earlier this week.