Vietnam's Growth Threatened by Tariffs

This is a Vietnam news story, published by CNBC, that relates primarily to Donald Trump news.

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CNBC

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World

Vietnam has been a big beneficiary of global trade — Trump's new tariffs threaten to derail that

Summary

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89% Informative

Concerns are mounting that U.S. President Donald Trump 's aggressive tariffs could derail Vietnam 's ambitious growth target.

Vietnam has long been viewed as a successful example of embracing external trade, luring some of the largest companies in the world to establish hubs to manufacture everything from footwear to electronic products.

The new levies announced by Trump last week could slash Vietnam 's total goods exports by as much as 40% this year , according to OCBC Bank .

White House trade advisor Peter Navarro says Vietnam 's zero -tariff offer is not enough to warrant cancellation of new levies.

Hanoi sought to offer trade compromises, including lowering tariffs on several U.S. products, such as liquefied natural gas and cars.

China has retaliated with a 34% additional tariff on all U.K. goods, but most Asian economies have chosen to refrain from direct retaliation.

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formal

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English

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