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President Donald Trump announced on Truth Social that he spoke with Vietnam’s Communist Party General Secretary To Lam, who offered to cut Vietnam’s tariffs on U.S. goods down to “zero” if an agreement is reached. Trump’s post stated, “Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.” Trump posted about Vietnam’s ZERO tariffs deal offer. Source: Truth Social Trump and his wife were invited by General Secretary Lam to visit Vietnam again on the same call. Trump added, “I thanked him on behalf of our Country and said I look forward to a meeting in the near future.” The conversation came amid a dramatic shift in U.S. trade policy, as Trump imposed a 46 percent tariff on all goods imported from Vietnam, a rate that will take effect next week. For Vietnam, one of Trump’s top targets, the new 46 percent tariff is among the highest imposed, affecting a market that absorbed US$142 billion of Vietnamese exports in 2024. Nike’s share price increased after Trump’s post. Source: Google Finance The share price of Nike stock rose following Trump’s post. This increase is linked to the fact that about 25 percent of Nike’s footwear is made in Vietnam. Vietnam was optimistic about dodging the US tariff shock. U.S. direct exports to Vietnam were recorded at US$13.1 billion in 2024, a figure that limits Hanoi’s ability to retaliate with its own tariffs. Therefore, Vietnam is leaning towards diplomacy. Moreover, Hanoi has also tried to avoid trade tariffs before. During a recent visit to Washington by Industry and Trade Minister Nguyen Hong Dien, Vietnam secured US$4.15 billion in deals with U.S.…

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Filed under: News - @ April 4, 2025 6:19 pm