US Imposes New Tariffs: Vietnam Faces 46% Tax – Impact on Import-Export
On April 2, 2025, US President Donald Trump announced a new tariff policy at the White House, marking a significant shift in global trade. He called this day "Liberation Day" – a moment when the US "regains economic sovereignty" by imposing high tariffs on imports. This policy will take effect on April 5, 2025, directly impacting over 60 countries, including Vietnam.
1. New Tariff Rates: Vietnam Faces a High 46% Tax
President Trump declared a baseline 10% import tariff on all goods. However, higher rates apply to countries with significant trade deficits with the US. Specifically:
- China faces a 34% tariff
- Vietnam faces a 46% tariff
- Japan, South Korea, and the EU face tariffs of 24%, 25%, and 20%, respectively
- Mexico and Canada, under the USMCA agreement, face only a 15% tariff
- India is taxed at 18% due to its previous protectionist policies
→ See the latest reciprocal tariffs table here.
The tariff calculation formula is based on the bilateral trade deficit. For Vietnam, this accounts for 90% of total trade volume, leading to a 46% tariff—half the amount calculated using the US formula:
(TRADE DEFICIT/EXPORTS) ÷ 2
→ Vietnam: (123.5 billion / 136.6 billion) ÷ 2 = 46%
2. Why Is Vietnam Subject to High Tariffs?
- Allegations of Transshipment: The US accuses some Chinese companies of using Vietnam as a transshipment point to evade tariffs, placing Vietnam under tighter scrutiny.
- Rapid Export Growth: Vietnam’s exports to the US have surged by over 20% annually, positioning Vietnam as a rising trade competitor.
- Monetary Policy Concerns: The US suspects Vietnam of maintaining a low exchange rate to support exports, prompting stricter tariff measures.
3. Impact on Vietnamese Businesses
The new tariff policy will severely affect Vietnam’s export sectors, particularly:
- Textiles and Footwear: Key exports to the US will become significantly more expensive, affecting long-term orders.
- Electronics and Components: Companies like Samsung Vietnam may face major supply chain disruptions and increased costs.
- Furniture and Wood Products: Higher production costs could weaken competitiveness, especially in the premium segment.
- Agricultural and Seafood Products: Exports of shrimp and pangasius to the US may decline sharply due to higher costs compared to competitors like Ecuador and Thailand.
However, some sectors may benefit indirectly:
- Technology and Software: Digital products are less affected by tariffs than physical goods.
- Diversified Export Markets: With US restrictions tightening, businesses may shift focus to the EU and Middle East markets.
4. How Should Businesses Adapt?
To navigate these tariff changes, Vietnamese businesses should:
- Reassess Export Strategies: Develop market expansion plans beyond the US, targeting the EU, Japan, and the Middle East.
- Leverage Trade Agreements: Plan exports through countries with FTAs with the US to benefit from lower tariffs.
- Optimize Supply Chains: Reduce dependence on Chinese raw materials to avoid stricter US trade controls.
- Strengthen Trade Negotiations: Utilize the US’s “friendly tariff” policies to seek tax reductions through diplomatic and bilateral trade channels.
5. Real Logistics – The Optimal Solution for Vietnamese Businesses
In response to these changes, Real Logistics is committed to supporting businesses by providing:
- Flexible logistics solutions to optimize costs and explore alternative export routes.
- Professional customs declaration services to ensure smooth clearance and compliance with new regulations.
- A vast transportation network to help businesses quickly access alternative markets beyond the US.
The US is reshaping global trade with its new tariff policy. Vietnamese businesses must proactively adapt to sustain long-term growth. Contact Real Logistics today for the best solutions!
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