US tariff delay 'encouraging': AmCham Vietnam

AmCham said it was "relieved and encouraged" to learn that the implementation of new U.S. tariffs will be postponed by 90 days for most countries, including Vietnam.

"AmCham has strongly and promptly advocated for such a delay as essential to allowing both Vietnamese and U.S. companies to adjust to whatever new tariffs will be applied," the chamber in Vietnam stated in a release on Thursday morning.

That will also allow the U.S. and Vietnamese governments to align on a trade framework that sustainably addresses the interests of both countries, it added.

President Donald Trump on Wednesday dropped his reciprocal tariffs for countries reaching out to the U.S. to negotiate to 10% for 90 days. The 90-day reprieve is applied to nearly 90 nations except for China.

AmCham noted that Vietnam’s decision to engage the U.S. in good-faith discussions, which have been aimed at decreasing the U.S trade deficit through reductions in tariff and non-tariff barriers, appears to have been "the correct approach up until this time and policy makers should be recognized for patience and pragmatism".

According to Vietnam News Agency, the U.S. has agreed to begin negotiations on a reciprocal trade agreement with Vietnam, as proposed by Vietnamese Deputy Prime Minister Ho Duc Phoc at his meeting with U.S. Trade Representative Jamieson Greer on April 9.

The Deputy PM proposed that, although the U.S. has decided to delay the imposition of tariffs by 90 days, the two countries should promptly begin negotiations on a bilateral trade agreement in order to establish a long-term framework to promote a stable and mutually beneficial economic and trade relationship, in line with the Comprehensive Strategic Partnership.

In the meeting, Greer lauded Vietnam’s proactive and positive steps, which demonstrate the country’s strong commitment to advancing the bilateral economic and trade ties.

AmCham added that during the "pause", it expects to work closely together with the Vietnamese government and the business community towards identifying and addressing trade barriers that are material and legitimate.

The Vietnamese stock market opened on Thursday, April 10 with green (rising) and purple (hitting the regulated ceiling level) colors overwhelming, following President Trump's latest announcement.

All stocks in the VN30 basket, which includes 30 largest caps on the major bourse, increased sharply in a "no sell side" situation. This is the first time this phenomenon has occurred. The VN-Index increased by more than 70 points (+6.62%) right after the ATO, recording the strongest increase in its history.

The General Statistics Office of Vietnam reported on Sunday that Vietnam posted a trade surplus of $3.16 billion in Q1/2025. The U.S. was Vietnam’s biggest export market with an export revenue of $31.4 billion, up 16.5% year-on-year. Vietnam’s trade surplus with the U.S. in January-March was $27.3 billion, up 22.1% year-on-year.