Sunday, June 22, 2025

Vietnam wants to cut tariffs down to zero after US reciprocal tariffs, Trump says

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US President Donald Trump said on Friday that Vietnam had agreed to slash its tariffs to zero in a potential trade deal, following Washington’s imposition of steep 46% levies on goods from the Southeast Asian nation. The announcement came after what Trump described as a “very productive” call with To Lam, General Secretary of the Communist Party of Vietnam.

Trump shared details of the conversation in a Truth Social post at 11:01 AM ET, writing: “Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future.”

The US tariffs, unveiled earlier this week, sent shockwaves through Vietnam, a major exporter of electronics, apparel, and footwear to the American market. The 46% levies threaten to upend an economy heavily dependent on trade, prompting an urgent response from Hanoi.

On Thursday, Vietnamese Prime Minister Pham Minh Chinh ordered the formation of a “rapid response team” to address the fallout from Trump’s tariff announcement, according to state media. The move highlighted the pressure felt by Vietnamese leaders as they confront the potential economic consequences.

In a separate statement, the Vietnamese government confirmed that Deputy Prime Minister Ho Duc Phoc would travel to the United States for a “working visit,” though specific dates were not disclosed.

Trump’s tariff policy, a hallmark of his administration, aims to reduce US trade deficits and boost domestic manufacturing. Vietnam, which has risen as a manufacturing powerhouse amid shifts away from China, now finds itself a target of Washington’s trade strategy.

Neither the White House nor Hanoi elaborated on the prospective deal, leaving its terms and timeline unclear.



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