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Vietnam suggests firm monitoring of Trump’s trade policy

Hanoi, Feb 4 (Prensa Latina) If the impact of U.S. President Donald Trump's trade policy on Canada, Mexico and China will become more evident over time, in the case of Vietnam the situation today requires constant monitoring.

The criteria was stated here by former Vice Chairman of the Central Institute for Economic Management and member of the National Advisory Council for Monetary and Financial Policy, Vo Trí Thanh, in an article titled “Trump’s trade policy 2.0: what does it mean for Vietnam’s economy?.”

In the expert’s view, if the import tariffs enacted by the White House tenant are extended to the Indochinese nation, these “Could have significant effects on the Vietnamese economy” through trade balances, exchange rates, supply chains and foreign direct investment (FDI).

The United States, Tri Thanh recalled, is Vietnam’s largest export market and accounted for nearly 30 percent of the country’s foreign sales in 2024, with a trade surplus of $104.6 billion.

During Trump’s first term, Vietnam and other economies benefited greatly from the U.S.-China trade war, as many manufacturers moved their factories here to avoid U.S. tariffs, he recalled.

Under Joe Biden’s presidency, the expert further noted, the bilateral relationship continued to strengthen with the establishment of a comprehensive strategic partnership.

However, in Trump’s second term, Vietnam may not enjoy the same benefits and FDI flows may slow down in early 2025 and until investors have a clearer understanding of whether the Southeast Asian country will be a target of their policies, he warned.

ef/abo/lam/mpm

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