Before the US tax deadline, export businesses have to defend themselves.

In Ba Ria-Vung Tau, the fields with many enterprises exporting to the US are leather shoes, garments, handicrafts... In the photo: Garment production at AJ Solutions Production Company Limited (Chau Duc district).

The proportion of exports to the US accounts for only 5.19%

On April 3 (Vietnam time), the US President Donald Trump administration announced a 10% tax on all goods imported into the US, and a higher rate on the largest trading partners, of which Vietnam is at 46%.

The 46% reciprocal tax rate applied to Vietnam greatly affects a series of industries such as wooden furniture, textiles, electronics, steel, electronics, footwear, agricultural products, seafood, etc.

In Ba Ria-Vung Tau province, Asia and Europe are the province's main markets, accounting for more than 90% of the export proportion. Particularly for the US, in the first 3 months of 2025, the province's export turnover to this country was estimated at more than 89 million USD, accounting for only 5.19% of the proportion.

With only a small proportion of the province's total export turnover, the Trump administration's announcement of a 46% reciprocal tax on Vietnamese goods entering the US is considered not to have a serious impact on the overall production and export situation of Ba Ria-Vung Tau.

Business worries

However, the above information has caused confusion among FDI and domestic enterprises in some fields such as steel, leather shoes, garments, handicrafts, etc. that are exporting goods directly to the US.

Mr. Vo Van Trung, Director of Khang Viet Tien Production and Trading Company Limited (Long Hai Town, Long Dat District) said that the company is producing handicraft products from water hyacinth mainly for export, of which the US is a key market. In the first quarter of 2025, Khang Viet Tien Company's revenue was about 3 billion VND, of which more than 70% came from exports to the US. "Hearing that this country announced to impose reciprocal taxes on all goods from Vietnam makes us really worried. This will certainly directly affect the export of the company's products, especially when this item is still facing competition from other countries," said Mr. Trung.

Therefore, although the information has only been available for 2 days and the tax has not yet come into effect, Khang Viet Tien Company has had to temporarily cut 70% of production output to "wait" for new developments.

On April 3, right after US President Donald Trump announced the imposition of tariffs on the US, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee with ministries and sectors to assess the situation and discuss solutions. The Prime Minister analyzed that the current situation shows that trade competition is becoming more fierce and unpredictable. The Prime Minister asked ministries and sectors to remain calm, courageous, and have countermeasures for all developments to continue to overcome difficulties and requested the immediate establishment of a rapid response team on this issue headed by Deputy Prime Minister Bui Thanh Son; assigned Deputy Prime Minister Ho Duc Phoc to chair and direct ministries and sectors to listen to opinions from businesses, including large exporting enterprises.

Along with enterprises that directly “do business” with the US, there are also a number of enterprises in the province that export to other countries, and then from there to the US. Although indirect, with most countries exporting to this country being affected by reciprocal tariffs, enterprises in Ba Ria-Vung Tau are also expected to face difficulties.

Enterprises in the province are also expecting that the negotiations between the Vietnamese Government and the US will bring positive results. Along with that, enterprises also recommend that the Government and the province consider solutions to support enterprises if the tax is imposed, related to taxes, fees, access to preferential capital sources, market search, etc.

Article and photos: QUANG VINH

Source: https://baobariavungtau.com.vn/kinh-te/202504/chua-den-han-my-ap-thue-doanh-nghiep-xuat-khau-da-phai-phong-thu-1038881/