Amid the new US tariff policy, many Vietnamese businesses believe that, in addition to direct difficulties in tax rates, indirect difficulties will arise in terms of regulations on quality and traceability.
Dr Trương Minh Huy Vũ, Director of the HCM City Institute for Development Studies, emphasised the need to diversify export markets, strengthen international cooperation, and maximise the advantages of existing free trade agreements (FTAs).
The HCM City banking sector will help businesses overcome the impacts of the new US tariffs on their exports as part of broader macroeconomic measures initiated by the Government and the city, according to the State Bank of Vietnam.
Economists and business leaders are raising serious concerns over the US announcement to impose a 46 per cent reciprocal tariff on Vietnamese goods starting April 9, warning of potential negative impacts on exports and the country’s overall economic growth.
Việt Nam should continue bilateral negotiations with the US administration on major export commodities while guiding businesses in diversifying markets, attracting more US investments, and increasing purchases of goods from the US, an analyst has said.
While Việt Nam is not the largest exporter of steel and aluminium to the US, domestic businesses will still face significant challenges due to this policy.
Many Vietnamese enterprises are keeping a close eye on the escalating US-China trade war and have expressed concern about its possible adverse impact on their business.
With the US-China trade war escalating, Viet Nam may be able to increase exports of items like furniture, agricultural products, and leather products to the US, a conference heard in HCM City on Wednesday.
The latest US tariffs on Chinese auto parts was likely to hit Viet Nam’s rubber industry, said head of the Vietnam Rubber Association (VRA)’s Rubber Development Consulting Division Tran Thi Thuy Hoa.
Shares of steel companies have been volatile in recent days following the information that the US may impose steep tariffs on steel imports, but market insiders say this, if it happens, would have a moderate direct impact on domestic steel...
Vietnamese tra fish fillets'' exports to the United States might be hurt
this year due to a high anti-dumping tax rate imposed by the latter, an
official said.