Exports to the US: 90 more days to change the situation

On April 9, 2025, the reciprocal tax rate issued by the US with nearly 90 countries and territories ranging from 10-50% will take effect. However, immediately after that, US President Donald Trump decided to postpone for 90 days and the reciprocal tax rate during this time will be around 10%. However, China alone is not entitled to the reciprocal tax deferral policy. Therefore, the postponement period will be an opportunity for Vietnam and many other countries and territories to negotiate.

On April 9, Deputy Prime Minister Ho Duc Phoc visited the US as a special envoy of General Secretary To Lam to discuss bilateral economic and trade issues. Although the reciprocal tax has been temporarily suspended, Vietnam hopes to have bilateral trade negotiations and agreements to stabilize trade between the two countries. At the same time, Vietnam is implementing measures to balance trade between the two countries.

In Dong Nai, a number of sectors and fields have proposed increasing the import of raw materials for agricultural and industrial production from the US to help reduce the trade deficit between the two countries. On average, Dong Nai imports about 16.5-17.2 billion USD each year from other countries; of which the three largest import markets are China, South Korea and Taiwan. In the Chinese market alone, Dong Nai enterprises import goods accounting for about 1/3 of the province's total import turnover, equivalent to 5.5-5.7 billion USD/year. Therefore, in the next 3 months, to balance trade with the US, Dong Nai enterprises must shift to importing more goods from the US market. Specifically, increasing the import of cotton, fabric, chemicals, plastics, seeds, breeding pigs, breeding chickens, corn, soybeans, animal feed, livestock meat, poultry, machinery and equipment, pharmaceuticals, etc.

At the same time, the province needs to review projects in which Chinese investors have rented factories in industrial parks in Dong Nai to produce and export to the US. Because, in the past 4-5 years, there has been a "wave" of Chinese enterprises renting factories in Dong Nai to produce machinery, equipment, electronic components, wood products, etc. for export to the US. Many domestic and foreign enterprises in the province want the province to strictly control, to avoid cases where Chinese enterprises only assemble goods originating from Vietnam to export to the US to enjoy low taxes. Thus, it will increase the trade deficit with the US and cause great risks for other enterprises in Vietnam.

Khanh Minh

Source: https://baodongnai.com.vn/kinh-te/202504/xuat-khau-vao-my-them-90-ngay-de-thay-doi-tinh-the-2260600/