While Vietnamese goods are subject to a 46% retaliatory tariff when exported to the US, many other countries such as Thailand, Indonesia, and India have lower tariffs. Why are there such different tariff rates? According to economic expert Associate Professor Ngo Tri Long, the US uses a formula for retaliatory tariffs applied to other countries: 1/2 x trade deficit / value of that country's exports to the US.
For example, according to US figures, Vietnam's exports to the US totaled $136.6 billion, while Vietnam's imports from the US amounted to $13.1 billion. The US had a trade deficit of $123.5 billion, equivalent to 90% ($123.5 billion / $136.6 billion). Therefore, the US chose a reciprocal tariff of approximately half of that ratio, but at a higher rate of 46% (instead of 45%).
Vietnamese goods exported to the US will be subject to a 46% retaliatory tariff.
PHOTO: DAO NGOC THACH
Similarly, Cambodia exports $12 billion to the US and imports $0.3 billion from the US. The US trade deficit with Cambodia is $11.7 billion, or 97.5%, and the US imposes a retaliatory tariff of 49% on Cambodia. Indonesia exports $28 billion to the US and imports $10.1 billion, resulting in a trade deficit of $17.9 billion, or 64%, leading the US to impose a retaliatory tariff of 34%. For China, the US trade deficit is $279 billion on total exports of $418 billion, or 67%, and the US has announced a retaliatory tariff of 34%...
In a report released by the US, explaining the reasons for the increase to address trade imbalances and create a level playing field for American businesses and workers, President Donald Trump stated that the US is one of the countries with a relatively low average Most Favored Nation (MFN) tariff rate of 3.3%. Meanwhile, many major trading partners are applying higher average MFN tariff rates, citing examples such as Brazil (11.2%), China (7.5%), the European Union (5%), India (17%), and Vietnam (9.4%).
Thanhnien.vn
Source: https://thanhnien.vn/thue-doi-ung-46-ap-voi-viet-nam-duoc-tong-thong-donald-trump-tinh-nhu-the-nao-185250403103747133.htm
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