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Trump’s Tariff Targeting May Shift to Vietnam as Deficit Soars

Energy - Renewables 130 Industrials - Capital Goods 440 Info Tech - Tech Hardware 591 Tariffs 1614 U.S. 4478 Vietnam 273

The U.S. government may be close to taking tariff action against Vietnam – possibly via a section 301 review – after U.S. Trade Representative Robert Lighthizer stated Vietnam needs to “resolve market access restrictions” as well as cut the trade deficit. In the 12 months to May 31 the U.S. trade deficit with Vietnam reached a record high of $47.1 billion after U.S. imports climbed 32.8% in the three months to May 31. Growth has been particularly marked in the electricals and electronics sectors where manufacturers have moved production for the U.S. to Vietnam from China in response to e...

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