Businesses in the capital of Vietnam suffer from a decline in sales after the introduction of trade on the country earlier this year.
Hanoi’s old quarter has been re -manufactured with designer goods, brand clothes and electronics selling shops in Hanoi’s old quarter that still manufactures area clothes.
Announcing that the goods are “built in Vietnam”, everywhere-a concept of locals emphasize passers-by, who expects selling legs made from the leg traffic made from large-scale tourists and backpackers.
Vietnam PM expects a trade deal before the July tariff deadline
Vietnam is an attractive possibility for American investors due to its youth workforce and low labor costs.
However, it is downwards below Washington’s 46% tariff rate, which is about to apply in July. Hanoi is in conversation with Washington for a decrease.
On Wednesday, Vietnamese Prime Minister Fam Minh Chinh said that he expected a trade deal with the US before 46%.
“I hope you see the results will come before two weeks,” Chinh said. “Vietnam and America share a deep understanding on tariffs … I hope all positive things will come for us.”
Meanwhile, a baseline tariff of 10% since April is in place.
Rapid growing economy
Apple, Samsung and Nike have chosen Vietnam as major manufacturing places. The country increased the $ 142 million goods for the US last year, which was about 30% of its total economic production.
According to a World Bank report in March, Vietnam is one of the fastest growing economies in South East Asia, with an estimated GDP growth by the end of 2025, according to a World Bank report in March.
The report showed the estimated growth for rebounding to Vietnam in search of industries as manufacturing exports, tourism and foreign direct investment.
But those projects cannot meet expectations in the absence of business deal or give relief from relief.
“Without TATIF Relief, Vietnam will fail to hit its ambitious development goals; American market is very important for them,” said Zachari Abuza, a professor at Washington’s National War College, Washington’s National War College; the American market is very important for them. ”
“Even if they can reduce that 46% of the stars, the Trump administration has imposed a 10% tariff on all countries.”
Why is Trump’s tariffs so high?
US President Donald Trump has hit Hanoi with high taffy due to partial concerns that China is using Vietnam as a transmission point to work around his high tattifies installed by Washington. Hanoi has intensive efforts to curb illegal transmission, which mainly include goods from China.
Grando premium aluminum Vietnam CEO Eric Guayen, who produces and exports international markets worldwide, told DW that the US government suspects that Vietnam is using China’s products.
“But the fact is that Grando, we do not use Chinese content, [everything is] 100% in Vietnam, “Guyen said, Tariff has forced its operation to rely on other markets worldwide.
“We want to expand our export markets to other markets, such as Europe, Japan and Korea, so that we do not depend on 100% in the US market and less unsafe for any change from the US government,” he said.
In Hanoi, a cargo freight company, Aviation Solutions Services General Manager Guyen Tung Fan told DW that since tafes were introduced, cargo freight companies in China are trying to send their cargo through Vietnam to avoid house rates.
“Now a lot of charter flying from Freight Forwarders is coming from China, now coming to Vietnam. The ability to fly in the US sun from Vietnam has increased, let’s say, 80%,” Hey said.
Balancing American demands with China relations
Vietnam and China have economically and politically intimate relations. Beijing is the largest trading partner of Hanoi and the two countries share the same political ideologies and are ruled by their respective communist parties.
Fellow, a research from Yokosuka Council on Asia Pacific Studies (YCAPS), said that if Vietnam decides to reduce its behavior with China, this Vietnamese economy will harm Ether Way.
He said, “Reducing or cutting input content from China wants to suffer significant loss to Vietnam’s economy,” he told DW.
He said that Vietnam’s manufacturing sector – especially electronics and textiles – is “dependent on the raw material imported from the regional supply chains located in China.”
“If Vietnam complies with American demands, he wants to hurt Vietnam’s relations with China, which will see compliance with Vietnam as joining the US LED-China coalition.”
Vietnam is a very large manufacturing center for international clothing brands, but Washington has highlighted how fake products have contributed to their concerns on business.
In January, a report by the US Trade Representative flagged off the Cygon Square Shopping Mall as a hotspot for the sale of Ford Fashion Items from major brands.
Han said that Vietnam has taken several measures to fulfill Washington’s concerns, which will expect the high tabarif imposed on them.
,[Vietnam has been] Increasing action on transmission issues and recently launched a new campaign to create a rift on fake products and digital piracy, “Hey said, now the question is: What will Vietnam do next?
“There is no country in the world that has been more active than Vietnam in interaction with the Trump administration. Currently one of the Bills for Vietnamese is how much to interact and remove.”
Edited by: Keith Walker
