Record surplus unlikely to alter US-Vietnam trade ties after midterms
The Donald Trump administration imposed a 12.5% tariff on Vietnamese goods in July over alleged failures to block forced-labour imports, partly replacing a 20% duty struck down by the Supreme Court.
Hanoi remains confident that the U.S. trade stance toward Vietnam will not change in the short term, despite Democrats' gains in the recent midterm elections. The two countries are working towards a trade deal, with Vietnam achieving the largest trade surplus with the U.S. in recent years, amounting to nearly $190 billion in the first nine months of the year.
However, the Trump administration has imposed a 12.5% tariff on Vietnamese goods over allegations of forced labor, and further duties may be added soon. Despite these measures, businesspeople in Vietnam believe that core aspects of U.S. trade policy, such as managing trade deficits and combating Chinese transshipment, will remain unchanged.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
