U.S. and Vietnam Business Groups Urge Delay of 46% Tariff on Vietnamese Goods:

U.S. and Vietnamese business associations have jointly requested the Trump administration postpone a planned 46% tariff on Vietnamese imports. They argue that the move will negatively impact trade ties and disrupt business operations for companies in both countries.

Letter Sent to Commerce Secretary

The Vietnam Chamber of Commerce and Industry (VCCI) and the American Chamber of Commerce in Hanoi (AmCham) expressed concerns in a letter to Commerce Secretary Howard Lutnick. The tariff, set to take effect Wednesday, was described in the letter as “shockingly high.”

Tariffs May Harm U.S. Consumers and Companies

In a joint statement, the chambers said lower tariffs would be more beneficial to U.S. consumers and businesses than punitive ones. “Lower tariffs for products coming into Vietnam, and for products reaching the American consumer is what will help U.S. companies, the economy, and consumers,” they noted. “Higher tariffs will not.”

Vietnam’s Trade Surplus and Tariff Concessions

Vietnam, a key manufacturing hub for global companies, reported a trade surplus exceeding $123 billion with the U.S. last year. In recent months, Vietnam has reduced multiple tariffs and agreed to increase purchases of U.S. goods, including airplanes and agricultural products.

Leaders Signal Openness to Tariff Deal

President Trump and Vietnamese President To Lam agreed during a phone call on Friday to begin discussions aimed at removing the tariffs. Trump described the call as “very productive,” suggesting potential progress toward a trade agreement.

Business Groups Seek Fair and Quick Resolution

AmCham and VCCI emphasized the importance of a quick and balanced agreement. “A fast and fair agreement would add certainty for businesses and would help to rectify the trade imbalance between the two countries in a manner that benefits both countries,” they said.