ANN/THE STAR – Vietnam is vulnerable to becoming the new Trump administration’s next target for tariffs as data shows its trade surplus with the United States (US) ballooning, industry executives and analysts said.
The Southeast Asian country, home to large industrial operations of US multinationals such as Apple, Google, Nike and Intel, has the fourth highest commercial surplus with the US, topped only by China, the European Union and Mexico.
US trade data showed the country’s deficit with Vietnam reached USD102 billion in the first 10 months of this year, nearly a 20 per cent increase over the same period in 2023.
“For Trump the main metric is the trade deficit, and the Vietnam number is bad,” said head of trade policy at the Asia-based Hinrich Foundation Deborah Elms.
“Vietnam is an ideal candidate for early action because it cannot easily retaliate,” she said.
President-elect Donald Trump, who takes office in January, threatened tariffs of up to 20 per cent on all US imports during his election campaign.
His son Eric, a top adviser, has cited Vietnam among countries that “ripped off” the US, according to a video shown last week at a business conference in Hanoi organised by American chambers of commerce.
