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Washington imposed a 46% tariff on Vietnam, prompting Vietnamese Trade Minister Nguyen Hong Dien to send a diplomatic note to the US on April 3, seeking discussions with the US.
Vietnamese Prime Minister Pham Minh Chinh established a task force to address the issue during an urgent Cabinet meeting. He confirmed that the government's goal of attaining an 8 percent GDP growth by 2025 has not changed.
Thai Prime Minister Paetongtarn Shinawatra announced her intention to consult with U.S. officials to lower tariffs. Bangkok now faces duties of 37%, despite media reports indicating that the kingdom's officials anticipated only 11%.
"We should discuss and finalize the specifics," stated Shinawatra.
The Ministry of Commerce indicated its readiness for dialogue and expressed optimism for a positive result, referring to the strong Thai-US relationship.
Vietnam and Thailand are significant exporters to the United States: in the past, manufacturers in China, seeking to evade earlier U.S. tariffs, moved portions of their operations to these nations. In 2024, Vietnam exported goods worth $142 billion to the US, representing approximately 30% of the nation's GDP.
Malaysia encountered tariffs of 24%. The Ministry of Commerce of the country stated it would proactively collaborate with the U.S. to seek resolutions.
For Cambodia, the tariffs reached 49%.
Nonetheless, the media observes that even with the elevated duties imposed on several Southeast Asian nations, none of their officials have publicly indicated an intention to impose retaliatory tariffs on American products.
source: reuters.com
Vietnamese Prime Minister Pham Minh Chinh established a task force to address the issue during an urgent Cabinet meeting. He confirmed that the government's goal of attaining an 8 percent GDP growth by 2025 has not changed.
Thai Prime Minister Paetongtarn Shinawatra announced her intention to consult with U.S. officials to lower tariffs. Bangkok now faces duties of 37%, despite media reports indicating that the kingdom's officials anticipated only 11%.
"We should discuss and finalize the specifics," stated Shinawatra.
The Ministry of Commerce indicated its readiness for dialogue and expressed optimism for a positive result, referring to the strong Thai-US relationship.
Vietnam and Thailand are significant exporters to the United States: in the past, manufacturers in China, seeking to evade earlier U.S. tariffs, moved portions of their operations to these nations. In 2024, Vietnam exported goods worth $142 billion to the US, representing approximately 30% of the nation's GDP.
Malaysia encountered tariffs of 24%. The Ministry of Commerce of the country stated it would proactively collaborate with the U.S. to seek resolutions.
For Cambodia, the tariffs reached 49%.
Nonetheless, the media observes that even with the elevated duties imposed on several Southeast Asian nations, none of their officials have publicly indicated an intention to impose retaliatory tariffs on American products.
source: reuters.com