The Vietnamese government has called for leading US textile and shoe companies to work on imports from Vietnam at the US government against impending punitive tariffs. A special customs of 46 percent on clothing and shoes could significantly burden the trade between the two countries.
Industrial and Commercial Minister Nguyen Hong Dien met with the American Apparel & Footwear Association (AAFA) on Monday, as the Vietnamese Ministry announced on Tuesday evening. The Aafa represents over 1,000 brands, retailers: inside and manufacturers: Inside – including industry sizes such as GAP, Levi Strauss and Under Armor.
“Vietnam is ready to be a reliable partner in the global supply chain,” said Minister Dien at the meeting. The aim is to strengthen cooperation and to promote a fair, sustainable trade. Discussions with large US corporations were also part of the program of his visit.
The background is the impending introduction of a 46 percent punitive tariff by the US government under President Donald Trump. This blames the persistently high trade deficit with Vietnam for the measure. In 2024, the United States imported the value of around $ 136 billion from the Southeast Asian country, but only exported goods of $ 13 billion-a deficit of $ 123 billion, which rose by 18 percent compared to the previous year.
For Vietnam, which is considered an important manufacturing location for international fashion and sports brands, such a step would be a hard blow. The Vietnamese economy is very export-oriented and dependent on the US market.
This week, US companies with production facilities in Vietnam also appealed to the US government to refrain from the announced tariffs. At the same time, Hanoi is intensifying his diplomatic efforts: In addition to investment incentives for American companies, the country plans to obtain agricultural products worth over two billion US dollars from the United States.
There are also no symbolic gestures compared to the Trump family: a recently announced luxury resort project near Hanoi-a joint venture with a Vietnamese developer-is said to be created under the Trump brand and have an investment volume of around $ 1.5 billion.
This article was used with digital tools translated.
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