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Vietnam adapts to new U.S. tariff | Vietnam Today - Video học tiếng Anh

Vietnam adapts to new U.S. tariff | Vietnam Today

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0:00And our next story looks at the latest

0:02changes to US tariffs. The United States

0:04has officially imposed additional

0:06tariffs on 60 trading partners effective

0:09on July 24th. And under the new

0:11measures, Vietnamese exports to the US

0:13face a a 12.5% tariff of 2.5 percentage

0:17points from the temporary rate.

0:19>> And while the immediate impact is

0:21expected to be limited, it is

0:23accelerating efforts by businesses to

0:26diversify markets, strengthen

0:28competitiveness, and move up the value

0:30chain.

0:34>> Under the new measure, key Vietnamese

0:36exports such as textiles and garments,

0:39footwear, wood products, and seafood

0:41face the additional 12.5% tariff.

0:46Shirts are the company's biggest export

0:49to the US. While the US accounts for the

0:52largest share of its exports, the

0:54additional 12.5% tariff is not an

0:57immediate concern as the company has

1:00already secured orders in the end of

1:02this year.

1:04>> Vietnam's tariff rate is about 2.5%

1:07points higher than key competitors such

1:10as Bangladesh, Cambodia, Indonesia, and

1:13Malaysia. In the long term, this may

1:15create a disadvantage. We are expanding

1:17into markets such as Australia, Canada,

1:20and South America to reduce reliance on

1:23the US market.

1:25>> Alongside textiles and garments, wood

1:27products and footwear are among the

1:29sectors expected to feel the greatest

1:32impact. According to Mirae Asset, the US

1:35accounts for roughly half of exports in

1:37these industries. Even so, many

1:40businesses say the new tariff remains

1:42manageable for now.

1:46>> Vietnamese firms have spent years

1:48building a strong presence in the US

1:50market, where consumers are now familiar

1:53with Vietnam-made furniture. Companies

1:55have been diversifying into new markets

1:58while strengthening governance, trade

2:00defense capabilities, regulatory

2:02compliance, legal timber sourcing, and

2:04product traceability.

2:07>> The outlook for foreign direct

2:08investment also remains positive.

2:11Experts say the new tariffs are unlikely

2:13to significantly affect high-value

2:15investment projects.

2:19>> Vietnam's remains highly attractive for

2:21high-tech projects, data centers, R&D

2:24facilities, and electronics

2:26manufacturing. Thanks to policy reforms,

2:28improving logistics, a growing

2:30innovation ecosystem, and deeper

2:32integration into global supply chains,

2:35the shift towards eco-industrial parks,

2:37high-tech zones, and digital

2:39infrastructure is also a major

2:41advantage.

2:43>> Earlier this month, the government

2:45issued decree 202 banning imports

2:48produced wholly or partly with forced

2:51labor as part of broader efforts to

2:53address trade concerns and strengthen

2:55compliance standards. While the 12.5%

2:58tariff adds pressure on Vietnam's

3:00low-cost manufacturing model, experts

3:03believe it could also accelerate the

3:05country's transition toward higher-value

3:07production, more transparent supply

3:09chains, and higher-quality investment.

3:14>> [snorts]