Washington [US]: US President Donald Trump announced on Friday that he had a “productive call” with To Lam, the General Secretary of the Communist Party of Vietnam, during which Vietnam expressed its willingness to cut tariffs to zero if a trade agreement with the US can be reached.
In a statement shared on Truth Social, Trump wrote,
“Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US.”
Trump thanked Lam on behalf of the United States and noted his interest in an in-person meeting soon, adding:
“I thanked him on behalf of our country, and said I look forward to a meeting in the near future.”
The call comes amid Trump’s unveiling of a new tariff regime, which includes reciprocal import duties targeting multiple countries. Vietnam is among those facing the highest proposed tariff rate—46%—starting April 9, according to CNN.
Vietnam was the sixth-largest source of US imports in 2024, with key exports including electronics, apparel, and footwear. US Commerce Department data shows that US imports from Vietnam surged from $42 billion in 2016 to $137 billion last year, partly due to the shift in supply chains following increased tariffs on China during Trump’s first term.
On April 2, Trump formally announced a global tariff strategy, emphasizing reciprocity and fairness in trade. He argued that the tariffs would counter non-tariff barriers, foreign subsidies, and VAT systems that disadvantage US exports.
Under the new policy, the following reciprocal tariffs will apply:
- Vietnam: 46%
- China: 34%
- European Union: 20%
- Taiwan: 32%
- Japan: 24%
- India: 26%
- Bangladesh: 37%
- Pakistan: 29%
- Sri Lanka: 44%
- Israel: 17%
- United Kingdom: 10%
Trump stated that the new tariff system aims to incentivize trade partners to reduce or eliminate their tariffs on US goods, thereby fostering a more balanced and fair global trade environment.