On April 2, 2025, the United States officially imposed a 46% retaliatory tariff on a wide range of Vietnam’s key export products, directly targeting sectors that account for 85% of Vietnam’s total export turnover to the U.S. (USD 123 billion in 2024). According to VIS Rating’s analysis, the electronics, textiles, wood products, and seafood industries will bear the heaviest impact due to their dependence on the U.S. market, which accounts for 30-80% of their revenue.

Vietnamese Export Products Affected by U.S. Retaliatory Tariffs

According to a report by Tuổi Trẻ newspaper, the 46% retaliatory tariff imposed by the U.S. on Vietnamese goods is among the highest applied to dozens of affected economies. This has caused significant negative impacts on several of Vietnam’s key export sectors.

Electronics and Machinery

This sector represents a large share of Vietnam’s exports to the U.S. Although multinational companies may shift production to other countries, this also means reduced investment and manufacturing in Vietnam, affecting employment and economic growth.

Source: VnEconomy

Textiles and Footwear

These labor-intensive industries heavily rely on the U.S. market. The high tariffs erode Vietnam’s competitive advantage, making it difficult to find alternative markets. Some textile companies have very high export revenue shares to the U.S., such as Song Hong Garment (80%), TNG (46%), Vietnam National Textile and Garment Group (35%), and Thanh Cong Textile (25%). These figures highlight the level of dependence and risk these companies face.

Source: Bao Chinh Phu

Wood Products

Similar to textiles and footwear, the wood industry is significantly affected. Savimex, a major wood manufacturer, derives 50% of its export revenue from the U.S. market. The high tariffs will challenge companies in maintaining market share and profitability.

Source: VnEconomy

The high tariffs not only impact exporters but also affect the entire supply chain, from raw material suppliers to logistics companies. This may also influence domestic consumption and Vietnam’s ability to attract foreign investment.

Race Against Time: Negotiation Strategy to Remove the 46% Tariff Before April 9

Mr. Vu Duy Khanh, Director of Analysis at SmartInvest Securities, described the 46% retaliatory tariff as “extremely serious.” Vietnam has about one week to negotiate before the policy takes effect on April 9.

In-depth analysis shows that not all export products are equally affected. Textile, seafood, and furniture sectors face the greatest challenges. Mr. Khanh noted: “Overall, Asian countries face high tariffs while Latin American countries have significantly lower rates. If this persists, global supply chains will shift to Latin America, and in the short term, export prices from Asia to the U.S. will rise sharply.”

Source: VTV.vn

In recent weeks, government representatives from both countries have actively negotiated to adjust trade policies. Vietnam has made concrete efforts such as reducing import tariffs on U.S. goods and approving new agreements for U.S. businesses operating in Vietnam. Notably, SpaceX was allowed to test its Starlink satellite internet service.

Analysts believe these measures will help boost U.S. imports and gradually reduce Vietnam’s trade surplus with the U.S. However, the outcome of upcoming negotiations will determine the extent and timing of the new tariffs.

In recent years, Vietnam has become an attractive destination for foreign investment and a key manufacturing hub in the global supply chains of many multinational corporations.

While the 46% U.S. tariff presents significant challenges for Vietnam’s export sectors, it also offers an opportunity for Vietnamese businesses to innovate, enhance competitiveness, and pursue sustainable development. Proactive adaptation, seeking solutions, and leveraging new opportunities will be key for Vietnamese enterprises to overcome difficulties and continue growing.

>> Read more: Mức thuế kỷ lục 46% đẩy hàng xuất khẩu Việt Nam vào thế khó tại thị trường Mỹ

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Which Vietnamese Export Sectors Are Most Affected by U.S. Retaliatory Tariffs?

Vietnamese Export Products Affected by U.S. Retaliatory Tariffs

Electronics and Machinery

Textiles and Footwear

Wood Products

Race Against Time: Negotiation Strategy to Remove the 46% Tariff Before April 9