Vietnam has offered to drop all tariffs on U.S. imports to zero, a move that could alleviate economic concerns and stabilize relations between the two countries. The proposal comes as the United States is set to impose a 46% tariff rate on Vietnam, which would be one of the highest rates faced by any country.
Vietnamese President To Lam has asked President Trump to delay the imposition of tariffs for at least 45 days, allowing both sides to negotiate and avoid devastating economic consequences. The proposed deadline also coincides with the end of May, when Mr. Lam invites Mr. Trump to meet in person in Washington to discuss the issue.
The request is seen as a calculated move by Vietnam’s government, which fears that some manufacturers might relocate to China if the tariffs are imposed. In recent years, Vietnam has attracted foreign investment and built its economy around cheap labor and a young workforce, making it an essential player in the global manufacturing supply chain.
Economists warn that the tariffs would put 5.5% of Vietnam’s gross domestic product at risk, while also hurting American consumers who rely on Vietnamese-made products. Nike, for example, makes about 50% of its footwear in Vietnam.
The proposal is a significant move by Vietnam, which has strengthened economic ties with the U.S. in recent years. The two countries have cemented a new strategic relationship, seen as a milestone in U.S. foreign policy five decades after the Vietnam War.
However, President Trump’s response to the request remains uncertain, and some experts speculate that he might not see Vietnam’s offer as a genuine attempt at cooperation. “He doesn’t see allies or strategic values,” said Huong Le Thu, deputy program director for Asia at the International Crisis Group. “He just sees numbers and tariffs.”
As the situation unfolds, Vietnam’s government is under pressure to deliver strong economic performance ahead of next year’s party congress, where the country’s top leaders will be selected. The proposal of zero tariffs could be a key factor in securing this goal.
Source: https://www.nytimes.com/2025/04/06/world/asia/vietnam-trump-tariff-delay.html