Vietnam Requests Tariff Delay as U.S. Trade Policy Threatens Economic Growth

Facing a 46% tariff on exports starting April 9, Vietnam seeks a 45-day postponement and negotiates to reduce U.S. export tariffs to 0% while aiming to sustain its 2025 growth target.

Vietnam's GDP growth slowed to 6.93% in Q1 2025, down from 7.55% in the previous quarter, as the country braces for the economic impact of U.S. tariffs.
The U.S. is set to impose a 46% tariff on Vietnamese exports on April 9, threatening key sectors like garments, electronics, and footwear, which could lead to job losses and reduced foreign investment.
Vietnam has formally requested a 45-day delay to the tariffs and is negotiating with the U.S. to eliminate American export tariffs as part of broader trade discussions.
Prime Minister Pham Minh Chinh reaffirmed Vietnam's commitment to achieving at least 8% GDP growth in 2025, despite analysts warning the tariffs could reduce growth by up to 3 percentage points.
A recent call between President Trump and Vietnamese Communist PartyLam was described as productive, with both sides expressing willingness to seek a trade agreement.