U.S. Secretary of Commerce Howard Lutnick has dismissed the idea of reciprocal tariff removal with Vietnam, citing concerns that the Southeast Asian nation acts as a conduit for Chinese goods entering the U.S. Lutnick said Vietnam re-exports large volumes of Chinese products, undermining U.S. trade interests.
US Rules Out Reciprocal Tariff Cuts With Vietnam Over China Re-Exports
Despite Vietnam’s proposal to eliminate tariffs on American goods, Lutnick called such a deal “silly” and “terrible.” Vietnam exported US$136.6 billion to the U.S. in 2024 while importing only US$13.1 billion. With import taxes currently reduced to 10%, a July 9 deadline looms for a new trade agreement under Trump’s proposed “reciprocal” tariff system.
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