We import more from Vietnam than from the UK and France combined. This is great news for free trade- here is to more countries following suit. pic.twitter.com/Kxu3gqAGTM
— The Investor (@ValueInvestor) April 2, 2025
Vietnam has announced significant reductions in import tariffs on various U.S. goods, effective March 31, 2025. This move comes as part of efforts to address the trade imbalance with the United States, which reached a record $123.5 billion in 2024. Key changes include:
- Liquefied Natural Gas (LNG): Tariffs reduced from 5% to 2%.
- Automobiles: Tariffs slashed from a range of 45%-64% to 32%.
- Ethanol: Tariffs halved from 10% to 5%.
- Agricultural Products: Reductions on items like frozen chicken legs (from 20% to 15%), almonds (from 10% to 5%), and pistachios (from 15% to 5%).
https://english.thesaigontimes.vn/vietnam-cuts-mfn-tariffs-on-cars-furniture-produce/