On April 9, President Trump announced a 90-day suspension of the 46% tariffs on imports from Vietnam. This decision follows strong and swift advocacy from AmCham, which viewed the delay as vital for both U.S. and Vietnamese businesses to adjust to the impending tariff changes. The pause also provides an opportunity for both governments to align on a sustainable trade framework that serves the interests of both nations.
Vietnam’s proactive engagement with the U.S. government in good-faith discussions aimed at reducing the U.S. trade deficit has proven effective so far. The patience and pragmatism shown by Vietnamese policymakers deserve recognition. However, while this development is positive, challenges remain. Businesses must continue adjusting to the existing 10% tariffs, along with the 25% tariffs on steel and aluminum. The 90-day “pause” presents an opportunity for AmCham to collaborate closely with the Vietnamese government and the business community to identify and address material trade barriers.
AmCham remains committed to working towards a freer, fairer, and more efficient trade environment. We encourage feedback from our members regarding the impact of tariffs, particularly on American consumers, and invite concrete stories to help raise awareness of the real-world consequences.
We greatly appreciate the support of our members and are honored to serve as the voice of American business.
Key Developments: AmCham’s Response to U.S. Tariffs
- April 17, 2025 – Forum on “Navigating the Trade & Tariffs Landscape”
On April 17, AmCham hosted a forum attended by nearly 200 business leaders to discuss the future of U.S.-Vietnam trade. Experts from KPMG Vietnam and BakerHostetler addressed concerns related to new U.S. tariffs, including transshipment risks, 20% U.S. content thresholds, and non-tariff barriers. As total duties on some imports could double or triple, businesses are facing rising costs and shrinking margins. Experts urged companies to take immediate action to review origin documentation, strengthen supply chain transparency, and utilize tools such as the KPMG Tariff Modeler to assess risks and ensure compliance during the 90-day grace period.
- April 10, 2025 – AmCham Welcomes 90-Day Delay but Acknowledges Ongoing Challenges
AmCham welcomed the 90-day delay on new U.S. tariffs, seeing it as a necessary step for both the U.S. and Vietnam to adjust and align on a more sustainable trade framework. While recognizing the constructive discussions between both governments, challenges remain with the current 10% tariffs and 25% tariffs on steel and aluminum. AmCham will continue collaborating with the Vietnamese government and businesses to tackle trade barriers and create a fairer, more efficient trade environment.
Click here for our press release.
- April 9, 2025 – Request for Member Feedback on Tariffs
On April 9, AmCham reached out to its members to share their experiences with how new tariffs might impact American consumers. In particular, AmCham is interested in concrete stories about the potential effects on everyday goods, such as t-shirts, shoes, and household items. The goal is to raise awareness of the tangible consequences these tariffs could have on consumers, including potential price increases and reduced product availability. Members are encouraged to provide insights, which will be shared with the media and the public.
- April 8, 2025 – Support for U.S.-Vietnam Dialogue and Tariff Delay
AmCham voiced its support for the Vietnamese government’s swift and pragmatic response to the U.S. tariffs. It commended the positive tone of recent discussions between General Secretary Tô Lâm and President Trump, as well as Vietnam’s offer of reciprocal zero-percent tariffs. AmCham emphasized the potential for deeper U.S.-Vietnam trade engagement and urged the U.S. to delay implementing tariffs to allow for further dialogue.
Click here for our press release.
- April 4, 2025 – AmCham’s Statement on U.S. Trade Tariff Duties
On April 4, AmCham expressed deep concern over the sudden implementation of 46% tariffs by the U.S. government, emphasizing that such actions undermine efforts to promote free, fair, and stable trade. AmCham called for a more balanced and measured approach.
Click here for our press release.
- April 3, 2025 – Report to USTR, U.S. Embassy, U.S. Consulate General, and U.S. Chamber of Commerce
On April 3, 2025, AmCham submitted a report to the U.S. Trade Representative, U.S. Embassy, U.S. Consulate General, and U.S. Chamber of Commerce, summarizing input from a virtual meeting with 170 members from the manufacturing and logistics sectors regarding the newly imposed 46% tariff. The report emphasized members’ urgent concerns, including the lack of implementation lead time, erosion of competitiveness, rising costs for U.S. consumers, and risks of canceled orders and business closures. Persistent labor shortages in U.S. manufacturing, supply chain disruptions, and long relocation timelines were also highlighted. Members expressed concern over declining U.S. investment in Vietnam and urged for reciprocal tariff reductions and a more accurate analysis of the reported $126 billion trade deficit. AmCham reaffirmed its commitment to collaborate with the Vietnamese government to enhance the business environment and promote fairer trade practices.
Click here for our press release.
- April 3, 2025 – AmCham’s Emergency Response to 46% Tariff Announcement
Following President Trump’s announcement on April 2 regarding the 46% tariff on Vietnamese imports, AmCham swiftly convened an emergency meeting with manufacturing and logistics members to assess the impact. A comprehensive summary was shared with the U.S. Trade Representative, U.S. Embassy, U.S. Consulate General, and U.S. Chamber of Commerce.
Previous AmCham Engagements
- March 17 – “Critical Updates on Tariffs and Trade: A Look at Vietnam” event
On March 17, AmCham hosted a webinar on the impact of U.S. tariffs on businesses in Vietnam. We thank Mr. Steven Okun (APAC Advisors) and Dr. Deborah Elms (Hinrich Foundation) for their valuable insights on trade policy and geopolitics. The discussion covered the Trump administration’s trade stance, challenges for Vietnam, and the need for supply chain transparency. Speakers emphasized adapting to the “America First” approach, diversifying markets, and rethinking supply chain strategies in a shifting trade landscape.
- February 14 – AmCham Survey reveals strong concerns among members regarding potential tariffs on Vietnamese goods
AmCham Vietnam released the results of a snap survey conducted among its members, revealing significant concerns about the potential impact of tariffs on goods from Vietnam. The survey, conducted from February 4-11, 2025, gathered insights from over a hundred member companies and provides a timely assessment of business sentiment on this critical issue. “The survey results clearly indicate the significant anxieties felt by American businesses operating in Vietnam regarding potential tariffs. The concerns from our members range from operational disruptions and financial strain to potential job losses and broader economic repercussions,” remarked Mr. Travis Mitchell, AmCham Executive Director.
Click here for the press release.
AmCham is committed to supporting its members and advocating for a trade environment that fosters long-term growth and stability. We will continue to keep you informed and involved as we navigate these important issues.