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Vietnam rushed to meet the July 9 trade deadline set by U.S. President Donald Trump, hoping to escape a round of harsh reciprocal tariffs. But that early move has now left officials in Hanoi and major manufacturers facing more confusion than clarity. Vietnam was one of only two countries to strike a last-minute agreement before the deadline, avoiding the initial 46% tariff threat. Trump publicly announced the new blanket rate at 20%. Still, no full agreement has been released, and neither side has explained the fine print, leaving businesses without answers just weeks ahead of an August 1 reset. Thanh Cong Garment, a key Vietnamese supplier for companies like Adidas, Columbia, and Calvin Klein, expected relief. Instead, it’s stuck in limbo. Company chair Tran Nhu Tung said there’s no certainty whether the 20% tariff will apply to all goods or increase for products made with Chinese materials. “For the products that [have] materials from China but manufactured in Vietnam, what is the tariff to export to the US? 20 per cent or 30 per cent or 35 per cent?” Tung asked. “We need to wait.” The issue is not hypothetical. Vietnam’s garment industry depends on China for about 70% of its raw materials, including zippers, cotton yarn, and elastic. Unclear transshipment clause triggers panic in factories A clause in the Trump deal threatens to apply a 40% tariff on “transshipped” goods. But no one has defined what transshipment means. The Vietnamese government hasn’t offered clarification, and the U.S. hasn’t released any details either. This has raised fears among manufacturers that goods containing Chinese components—even if legally assembled in Vietnam—will get hit with heavier tariffs. Rich McClellan, founder of RMAC Advisory, which advises both companies and Vietnam’s government, said, “There is a sigh of relief that at least we know what…

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Filed under: News - @ July 13, 2025 5:14 am