Generating tens of billions of dollars in export revenue, Vietnam’s wood industry is now bracing for a tariff storm, as the United States is set to impose a 46% reciprocal tariff on Vietnamese goods.

President Donald Trump is set to impose an astounding 104% in levies across all Chinese imports on Wednesday (April 9), White House Press Secretary Karoline Leavitt announced on Tuesday. This comes on top of Chinese tariffs that were in place prior to Trump’s second term.

President Donald Trump threatened to slap additional 50% import taxes on China, while readying negotiations with Japan and Israel, leaving markets struggling to grasp his intentions for his sweeping tariff plans.

China retaliated against Donald Trump’s latest tariffs with commensurate levies on all American goods and export controls on rare earths, dealing a fresh blow to global markets and prompting the US president to quickly deride Beijing’s reaction as the “wrong” move.

The European Union (EU) needs to be open to all potential means of retaliation against US tariffs, according to Spanish Minister for Economy, Trade and Business, Carlos Cuerpo.

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.

Vietnam is implementing multiple synchronized measures to respond to the United States’ 46% reciprocal tariff, aiming to cushion its negative impact on exports and the economy in general.

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.

In Tien Giang Province, where durian is a key export, stakeholders are calling for urgent solutions to ensure the sector can adapt and remain competitive.

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.