President Donald Trump said on Friday that he had a “productive call” with a key leader in Vietnam, adding that the country governed by communists wants to ink a deal with the United States and cut tariffs “down to ZERO.”
In a post on Truth Social, Trump said a Vietnamese official told him the country was interested in slashing tariffs on U.S. goods after Trump announced his “Liberation Day” tariffs on Wednesday. As part of Trump’s announcement that affects nearly every country in the world, Vietnam was hit with one of the highest tariffs at 46%.
“Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.,” Trump said. “I thanked him on behalf of our Country, and said I look forward to a meeting in the near future.”
Vietnam is a major manufacturing hub for multiple large American companies, including Nike, Adidas, Patagonia, and The North Face. Companies expanded in Vietnam after trade tensions rose with Communist China. U.S. imports from Vietnam increased 19% from 2023 to 2024, growing to $136.6 billion, CNBC reported.
Vietnam’s exports to the United States account for around 30% of its gross domestic product, which is the highest share among America’s biggest trade partners, according to Reuters. Along with hurting Vietnam’s economy, Trump’s tariffs on the country could also raise costs for American companies, stoking concerns that the tax will be passed on to American consumers. The president argues that tariffs will force American companies that have moved production to countries such as Vietnam to bring back manufacturing and jobs to the United States.
Not every country is reacting to Trump’s tariffs with a willingness to come to the negotiating table. China announced on Friday that it would impose a 34% tariff on U.S. goods in response to Trump’s 34% tariff on the communist nation. Canada and the European Union have also vowed to retaliate with tariffs on U.S. products.
