As Washington’s sweeping new reciprocal tariffs take effect, businesses across Asia are bracing for impact.

As the United States slaps a 20 per cent countervailing tariff on Vietnamese exports, concerns loom over the policy's implications for Vietnam's growth trajectory.

Vietnamese businesses are adapting to new US tariffs by investing in local supply chains, exploring new export markets, and innovating to maintain competitiveness in a challenging global landscape.

US President Donald J. Trump signed an Executive Order on August 1 (Viet Nam time) which adjusts rates for 69 countries and territories listed in Annex I. The reciprocal tariffs on Vietnamese imports have been lowered to 20% from 46%.

The US government’s 20% tariff on Vietnamese exports is straining the textile and seafood sectors by raising costs and reducing competitiveness, but industry leaders remain hopeful as businesses can adapt through operational optimisation and market diversification.

Seafood export turnover to the US reached US$905 million in the first six months of the year, marking an impressive growth rate of 17.5 per cent.

In the face of global trade turbulence caused by sudden tariff changes in the US and shifts in global supply chains, Việt Nam’s wood and wood product exports have managed to maintain positive momentum.

Free trade agreements provide a sense of continuity in a volatile trade environment by establishing clear rules and standards that help to anchor economic ties.

As US tariffs continue to pressure global trade, Vietnamese businesses are undergoing a comprehensive transformation, from supply chains and production to markets and services, to adapt and stay competitive.

Amid increasing global uncertainties, Vietnamese businesses are working hard to proactively develop risk response plans not as an option, but as a survival necessity to maintain supply chains and secure markets.