The Vietnam It aims to sign more free trade agreements to differentiate exports as it faces the global uncertainty created by the chair’s tariff attack USADonald Trump.
“The global economy is influenced by geopolitical competition, climate change, digital transformation and especially tariff policies from major markets such as the US,” Deputy Minister of Trade Phan Thi Thang said at an investment summit in Hanoi today. “However, Vietnam still has many opportunities to escape.”
Vietnam, an export force last year had the third largest trade surplus in the world with the US, is trying to navigate Washington’s demands while maintaining good relations with Beijing, its largest commercial partner. The US said a temporary agreement has been reached, which sets a 20% duty on Vietnamese products and 40% on downloads, which is mainly aimed at China.
“Electronic components, cars and textiles are facing US duties,” Thang said. “But this is an opportunity to increase added value and switch to high -tech products.”
Vietnam negotiators are still working to finalize the details of the trade agreement announced by Donald Trump last week. The 20% duty was a significant reduction from the previously threatened 46% rate and brings it ahead of regional competitors such as Thailand, Malaysia and Indonesia, to which they were sent on Monday (7.7.2025) letters set by 25%.
While Vietnam currently holds the advantage of the pioneer in Asia, it is likely that neighbors will reach lower contributions. And it is not clear how to enter into force and the terms of the 40%transformation duty will be imposed.
However, investors in the country’s stock market are seeing the duty 20% as “good news”, according to Thu Nguyen, Vinacapital Fund Management’s deputy chief executive, who expects more technology companies imported to Vietnam. Vietnam’s shares rose three years old, as commercial tensions have shifted to other Asian nations facing higher duties.
Vietnam saw growth accelerated in the second quarter, as foreign buyers ran to prevent Trump’s highest contributions, but the uncertainty in world markets has put the Central Bank on alert to take measures to limit inflation and support.
The country is maintaining its target for GDP growth by at least 8% this year and will continue to try to expand 10% or more in 2026 – 2030, Deputy Prime Minister Ho Duc Phoc said at the same investment summit on Wednesday.
One of the largest points of engagement throughout the negotiations was Vietnam’s commercial relationship with China. The United States demanded more measures from Hanoi to prevent the re -out of Chinese products through Vietnam to bypass the highest duties. Beijing said he was considering the trade agreement and that he would proceed to retaliation if his interests were affected.