Opportunities and challenges in expanding exports to the U.S.

(DN)- Starting February 4, 2025, the U.S. will impose an additional 10% tariff on Chinese imports and a 25% tariff on goods from Mexico and Canada. These tariffs will remain in place until the national emergency over fentanyl and illegal immigration is resolved. The move, anticipated since Donald Trump’s election, has already impacted global markets and is expected to drive further shifts in manufacturing from China to ASEAN countries, including Vietnam.

This presents an opportunity for Vietnam to expand exports to the U.S., benefiting from increased competitiveness against Chinese, Canadian, and Mexican goods. The U.S. remains Vietnam’s largest export market, accounting for about 30% of total export turnover. Đồng Nai, exporting to over 180 countries and territories, also sees the U.S. as its top market, with key exports including footwear, textiles, wood products, coffee, cashew nuts, transportation equipment, and electronics.

Since late 2024, U.S. orders for Đồng Nai businesses have surged, with many firms securing contracts through the end of 2025. However, experts caution that exporters must thoroughly understand U.S. regulations, particularly regarding materials sourced from China, as strict origin tracing is required.

Additionally, Đồng Nai must carefully screen foreign investments to prevent companies from using Vietnam as a transit point to evade U.S. tariffs. Any detection of trade fraud could lead to severe repercussions, impacting both local businesses and the national economy.

Reported by H.G