Events and Comments US Reciprocal Tariff Reduction for Vietnam: Opportunities in Challenges

This decision to reduce the tax is not only a recognition from the US for its goodwill and progress in trade cooperation with Vietnam, but also an important step to help stabilize the export environment, which is facing many difficulties after the Covid-19 pandemic, global geopolitical fluctuations and the rising wave of trade protectionism. However, the 20% tax rate is still a big challenge, especially for industries with low added value or that are heavily dependent on the US market.

In Dong Nai - a locality with export strengths, especially in items such as textiles, footwear, wood, agricultural products, etc., the impact of the new tax rate has been specifically forecasted by the Department of Industry and Trade. The loss of 5-10% of orders from the US market in the textile and footwear industry or the pressure to increase prices in the wood industry shows that the problem of costs and competition is becoming more acute. Even less affected industries such as coffee, cashew nuts, and seafood will also face price competition from other countries, if there is no effective response strategy.

The good news is that Dong Nai has had timely response scenarios such as: supporting businesses to renegotiate orders, promoting the expansion of alternative markets and taking advantage of incentives from FTAs with the EU, Japan, Korea, etc. This is the right and long-term direction, because depending heavily on a market always has potential risks.

For businesses, this is the time to demonstrate dynamism and flexibility in adjusting business strategies. Investing in technological innovation, improving product quality, and better meeting origin and environmental standards will be vital to maintaining competitiveness not only in the US market, but also in other high-end markets.

It can be said that the US's adjustment to reduce reciprocal tariffs is good news in the context of our country's economy needing more room for growth. However, this joy does not mean complacency. On the contrary, it is a warning bell about the need to upgrade the value chain, develop sustainably and diversify export markets. This is the time when we need to turn challenges into stronger reform motivation from the policy-making level to each enterprise to maintain export growth momentum, while affirming the position of Vietnamese goods in the international market.

Quyen Anh

Source: https://baodongnai.com.vn/kinh-te/202508/su-kien-va-binh-luan-giam-thue-doi-ung-cua-hoa-ky-doi-voi-viet-nam-co-hoi-trong-thach-thuc-57e0b44/