Vietnam's huge trade gap with US puts it in crosshairs of next administration
Vietnamʼs trade surplus with US grew to $102 billion making it fourth-largest among trading partners. Major tech companies operations in Vietnam might face new challenges as incoming administration signals possible trade actions
Vietnams trade surplus with US reached record-breaking numbers this year (showing almost 20% rise compared to last years data). The south-east Asian nation now holds fourth-biggest trade gap behind China EU and Mexico
Major tech giants like Apple‚ Nike‚ and Intel run big-scale operations in Vietnam making it a key manufacturing hub. The surplus reached $102-billion in first ten months of 2024; which puts the country at risk of new trade measures
The incoming administrationʼs stance raises red-flags for Vietnamese exports. Eric Trump a top-advisor mentioned Vietnam among countries that hurt US interests:
Vietnam is among nations that ripped off the US
Korean businesses show growing un-ease about possible changes. Hong Sun who leads Korean chamber of commerce in Vietnam points out that Samsungʼs smartphone exports might face problems. The appointment of Peter Navarro as senior trade counselor (known for his pro-tariff views) adds more uncertainty to the situation
Vietnam tries to fix the trade gap by suggesting more US imports - including LNG planes and medicine. However experts think its not enough to make big changes in current trade numbers. The country which got many factories after China tariffs needs to show better product origin tracking to avoid new trade limits
