Vietnam's trade surplus with US raises fears of potential Trump tariffs

From Investing.com: 2024-12-06 01:35:47

Vietnam may be the next target for Trump’s tariffs, with a $102 billion surplus with the U.S. Data shows a nearly 20% increase in the deficit over 2023. Vietnam, home to major U.S. companies, is vulnerable due to its inability to easily retaliate. Trump’s adviser Navarro has suggested tariffs on Vietnam to reduce the U.S. trade deficit.

Vietnam is concerned about potential tariffs as Trump’s team considers imposing them. The country could offset its surplus by increasing imports from the U.S. However, it remains uncertain if Vietnamese authorities will support these measures. Vietnam’s reliance on the U.S. market could lead to changes in its trade strategies to avoid being seen as a mere hub for Chinese products.



Read more at Investing.com: Vietnam’s soaring US trade surplus stokes new fears of Trump tariffs By Reuters