A new 46% tariff on imports from Vietnam, set to take effect on April 9, could significantly impact major U.S. corporations in the apparel, furniture, and toy industries. In 2024, Vietnam’s exports to the U.S. reached $136.6 billion, a 19% increase from the previous year. This tariff may lead companies to raise prices for consumers, affecting brands like Nike, which sources about 25% of its footwear from Vietnam. Nike’s shares fell over 6% in extended trading following the announcement. The footwear industry saw nearly a third of U.S. imports from Vietnam in 2023. In the furniture sector, Vietnam accounted for 26.5% of U.S. imports in 2023, closely following China’s 29%. Toy companies, including Hasbro and Mattel, also rely on Vietnam, with GFT Group operating five facilities there employing over 15,000 workers. As companies consider shifting production, American Eagle Outfitters plans to reduce its reliance on Vietnam and China to single-digit percentages by year-end.
Jane Nguyen
@Jane_DiepNguyen
·
11h Just woke up and got a bad news. The U.S. will impose a 46% tariff on Vietnamese goods.
Deputy Prime Minister Hồ Đức Phớc will visit the U.S and Cuba starting April 6. We only have one week to negotiate
C Nguyen
@CNMNguyen
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Mar 9 Vietnam is undergoing a historic “bureaucratic self-revolution”, which has seen entire 5 govt’ ministries, 5 govt’ agencies, many parliamentary committees, media stations, and district-level police stations slashed (~100,000 jobs) since Aug-2024.
Philippe Lemoine
@phl43
·
17h This will be bad for the US, but for some countries, it will be absolutely devastating. In particular, Vietnam’s exports to the US are like 1/3 of their GDP, so I think he just nuked their economy. You can forget about bringing them on board against China now
Nga Pham
@ngahpham
·
11h People ask me what the Vietnamese make of the new reciprocal tariffs. Disbelief and shock. Many Vietnamese think their government has been trying very hard to appease the US administration.
Deputy PM and ex minister of finance Ho Duc Phoc is going to the US to try renegotiate.
Sweet Summer Shunü 甜夏淑女
@Tianxiashunv
·
11h I did not expect the souring on Vietnam to begin this soon and yet here we are. Forget about the “next China”, the US won’t even want a “next Japan” or “next South Korea” at this rate.
Lee Ann Quann
@AnnQuann
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Mar 30 “Duty to help”
Personnel of Vietnam People Army taking inventory of their equipment before departing to Myanmar for earthquake relief. Similar to the mission to Turkey in 2023, the Army and the Public Security will work together on the field.
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