The Vietnam Chamber of Commerce and Industry and the American Chamber of Commerce in Hanoi expressed concern to Commerce Secretary Howard Lutnick in a letter dated Saturday, saying the tariff, to take effect on Wednesday, was “shockingly high”.
The Southeast Asian country, a major regional manufacturing base for many Western companies, posted a trade surplus of over $123 billion with the U.S., its largest export destination, last year.
Even before Trump's Wednesday announcement of sweeping global tariffs, Vietnam cut several duties as part of a series of concessions to the U.S., which also included pledges to buy more American goods, such as planes and agriculture products.
AmCham and VCCI said: “A fast and fair agreement would add certainty for businesses and would help to rectify the trade imbalance between the two countries in a manner that benefits both countries.”
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