Vietnamese Enterprises Proactively Respond to U.S. Trade Tensions

The United States has recently imposed new

on imports from Canada, Mexico, and China, leading to concerns about escalating global trade tensions. Experts warn that any country with a significant with the U.S. could become a target, and Vietnam is no exception. The potential rise in commodity prices and a decline in consumer may impact Vietnam's export-dependent economy.

Dr. Nguyen Quoc Viet, Deputy Director of the Institute for Economic and Policy Research (VEPR), advises Vietnamese businesses not to be complacent, even if they are not currently directly affected by these tariffs. He emphasizes that the U.S. may eventually target countries with large trade deficits. As major economies impose reciprocal tariffs, product prices are expected to increase, potentially leading to higher costs for consumers. This situation could also prompt the U.S. Federal Reserve to reconsider

adjustments due to concerns.

Hoang Manh Cuong, co-founder and business director of Vinaxo Co., Ltd., notes that China and Mexico are primary competitors for Vietnam in the U.S. market, especially in the dried fruit sector. He also highlights the risk of

, particularly from India and China, establishing operations in Vietnam to repackage products and export them to the U.S. under a "Made in Vietnam" label to evade tariffs. If not properly managed, this could adversely affect Vietnam's export industry.

In response, Vietnamese businesses are advised to

production and enhance to navigate the challenges posed by these global trade tensions.