Nội dung text Vietnam Offers to Drop U.S. Tariffs to Zero. Will That Be Enough for Trump?
Mr.Trump later described the call as “very productive." In his letter, Mr. Lam asked Mr.Trump to meet him in person in Washington atthe endof May "tojointly cometo an agreement on this important matter, for the benefit of both our peoples andto contribute to peace, stability and development in the region and the world" TrackingTrump'sFirst 100 Days The Trump administration'sprevious actions on North American tariffs •March 31 Said there would be no exemptions for tariffs set to begin on April 2> •March 29 Said he 'couldn't care less' if car prices went up in response to his tariffs > • March 26 Announced 25 percent tariffs on imported cars and car parts March 24 Threatened 25 percent tariffs againstany country that buys Venezuelan oil > •March 13 Warned other countriesthat they should not retaliate againstthetariffs the United States is putting on their exports +Earlier entries about North American tariffs Seeevery majoraction bythe Trump administration > Vietnam's Foreign Ministry did not respond to a requestfor comment. Vietnam, which facespunishinglyhigh tariffs along with China, Cambodiaand Laos, would be the hardest-hit economy in Asia if the tariffs are imposedas planned on Wednesday, according to economists.The United States is Vietnam's largest export market, accounting for about 30percent of the country's total exports. A 46 percent tariff rate would put 5.5 percent of Vietnam's gross domestic product atrisk, according to ING, a Dutch financial services company.
It would also hurt American consumers,because Vietnam is crucial in the global manufacturing supply chain.For decades, the country has built its economy around attracting foreign investment with cheap labor and ayoung work force.It is now atop manufacturer ofbrands such asAdidas and Lululemon. Nike makes about50 percent of its footwear in Vietnam. After Mr. Trump imposed tariffs on China during his first term, Vietnam benefited from companies shiftingtheir manufacturing there. The speed with which Vietnam madeits offer of zero percent tariffs reflected the government's concern that someinternational manufacturers in the country might be tempted to relocate to China, said Ben Bland,director of the Asia-Pacificprogram at Chatham House,athink tank based in London.