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'Shocking': US tariffs worse than feared for Vietnamese exporters

  • President Trump imposed a 46 percent tariff on Vietnam as part of his global trade strategy on Thursday.
  • Fears existed that Vietnam would be a key target due to its growing trade surplus with the United States.
  • Vietnam's trade surplus with the U.S. Doubled from 2017 to 2023, with the U.S. Importing $136.6 billion in goods.
  • Tran Nhu Tung of Thanh Cong factory called the tariffs "shocking," especially for textiles, as major firms may move orders.
  • Analysts predict the tariffs could significantly damage Vietnam's export-based growth, potentially hitting GDP by three percent.
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'Shocking': US tariffs worse than feared for Vietnamese exporters

At a garment factory in Ho Chi Minh City that exports T-shirts and underwear to the United States, staff were alarmed by "shocking" trade tariffs imposed on Vietnam that could severely impact their business.

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Moneycab broke the news in on Thursday, April 3, 2025.
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