Which 'big guys' on the stock market face high risks when the US increases taxes?

Many 'big guys' on the stock market are affected when the US imposes high reciprocal taxes on Vietnam - Photo: BONG MAI

US President Donald Trump's announcement to impose a 46% reciprocal tax on Vietnam, one of the countries with the highest import taxes, was beyond the forecast of many experts in the financial market.

Ms. Tran Thi Khanh Hien - Director of Research at MB Securities Company, and her colleagues, have just provided analysis related to this tariff shock. Accordingly, high tariffs reduce the competitiveness of key Vietnamese products in the US market, while direct competitors have significantly lower tariffs such as China (34%), India (26%), Thailand (37%)...

Not to mention, in the Southeast Asian region, Vietnam is also a country subject to high reciprocal taxes, which will affect the FDI capital flow into the country following the China +1 strategy. At the same time, the exchange rate will be under additional pressure because our country needs to increase imports from the US to narrow the trade surplus.

The securities company believes that the impact on our country's manufacturing industries will vary, depending on the proportion of exports to the US in the total export value, as well as Vietnam's competitors in the same segment.

In addition, some items still have the effective tax rates committed to be applied under the Vietnam - US Trade Agreement effective in December 2001.

Top commodities and "big guys" on the stock market are greatly affected when the US imposes taxes.

First, the group of enterprises producing computers - electronic products - components is mainly FDI from the US such as Intel, HP, Dell, Amkor. Facing the risk of being subject to high reciprocal taxes, these companies can proactively shift part of their production in the product packaging finishing stage to countries with lower reciprocal taxes such as India, Indonesia...

Thus, listed enterprises that are likely to be greatly affected by this wave are the industrial real estate group.

Similarly, for machinery - equipment - tool manufacturing enterprises, mainly Rockwell Automation, First Solar. These are also FDI enterprises from the US, in addition to some FDI companies from China, Hong Kong. Negative impact on industrial park real estate and logistics transportation enterprises.

Textile products Processing from Vietnam will suffer many disadvantages, when goods from Bangladesh, India, China, Sri Lanka... have lower reciprocal tax rates. Vietnamese textile and garment giants with a large proportion of exports to the US will be affected, such as Song Hong Garment (70%), TNG (50%), Thanh Cong Textile (25%), and The Ky Fiber (10%).

In the past, with the advantage of low prices thanks to cheap labor and raw material costs, Vietnam rose to the top 3 countries importing the most wood and wood products into the US. If a reciprocal tax of up to 46% is imposed, the price of Vietnamese wood products will lose its competitiveness. Therefore, listed companies in this industry that are affected include Phu Tai and Sao Mai.

Thanks to the trend of shifting production chains to reduce dependence on China, in previous years many footwear manufacturers have moved factories to Vietnam, including Nike, Ugg and Hoka, VF Corporation - owner of Vans, Timberland.

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Source: https://tuoitre.vn/nhung-dai-gia-nao-tren-san-chung-khoan-phai-hung-rui-ro-cao-khi-my-tang-thue-20250404175515516.htm