Vietnam Signals Readiness to Eliminate Tariffs Following Trump’s Trade Talks

U.S. President Donald Trump revealed on Friday that Vietnam is open to reducing tariffs to zero, following a constructive phone call with To Lam, General Secretary of the Communist Party of Vietnam.

In a statement posted on Truth Social, Trump shared that Vietnam expressed its willingness to eliminate tariffs entirely, provided that a free trade agreement is reached with the United States.

“Had a very productive conversation with To Lam… Vietnam is ready to cut tariffs to ZERO if a deal can be finalized,” Trump stated. “I appreciated the offer and expressed interest in an in-person meeting soon.”

This development triggered a rally in the stock market, particularly for companies like Nike, Skechers, and American Eagle, which rely heavily on Vietnamese manufacturing. Vietnam remains a leading supplier of footwear and apparel to the U.S., accounting for nearly one-third of all U.S. footwear imports.

Earlier the same day, Vietnam’s Deputy Prime Minister Ho Duc Phoc had reportedly appealed to the Trump administration to delay impending global tariffs for up to three months, according to Vietnam News.

Amid rising trade tensions, Prime Minister Pham Minh Chinh has previously shown a lighthearted willingness to resolve disputes, even suggesting “golf diplomacy” with the U.S. president as a path forward.

Without intervention, Vietnam is facing a 46% tariff hike beginning April 9, one of the steepest duties proposed under Trump’s renewed trade agenda.

To demonstrate its commitment, Vietnam has already lifted 23 tariffs on American goods and is actively working to boost collaboration on technology and investment initiatives, as confirmed by senior officials.

The U.S. and Vietnam recorded a trade volume of $149.6 billion in 2024, with American exports valued at $13.1 billion and imports totaling $136.6 billion, making Vietnam a strategic trade partner in Southeast Asia.