China’s Finance Ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10, following duties imposed by U.S. President Donald Trump’s administration earlier this week.

The April 3 announcement that the Trump administration will impose 46 per cent “reciprocal tariffs” on Vietnam from April 9 was completely unexpected. Michael Kokalari, chief economist from VinaCapital, analyses the impact and potential solutions Vietnam should take.

Việt Nam should continue bilateral negotiations with the US administration on major export commodities while guiding businesses in diversifying markets, attracting more US investments, and increasing purchases of goods from the US, an analyst has said.

Vietnam's total export turnover reached 405.5 billion USD in 2024. According to calculations by the Ministry of Industry and Trade, to achieve the target of 12% export growth in 2025, the country must reach an export turnover of 454 billion USD. This is a highly challenging goal, as it requires an average monthly export turnover of approximately 38 billion USD.

Southeast Asian nations reeled on Thursday as they were hit with some of President Donald Trump's heftiest tariffs, which now threaten the economies that have benefited from investment since he imposed levies on China during his first term.

The most immediate impact of Trump’s tariffs will be inflation, both in the US and worldwide. As import costs rise, businesses will pass these costs onto consumers, driving up prices, said Professor Phar Kim Beng of ASEAN Studies at the International Islamic University of Malaysia (IIUM).

In an unexpected move, the administration of US President Donald Trump announced it would impose a “reciprocal tariff” rate of 46 percent on Vietnam’s imports. As developments related to this news unfold, we provide preliminary evaluations of the tariff plan’s impact on Vietnam’s trade and economy.

In response to US' announcement of "reciprocal tariffs" on all its trade partners, China's commerce ministry (MOFCOM) said on Thursday that China strongly opposes the move and will firmly take countermeasures to safeguard its own interests.

Malaysia, as the Asean chair this year, will prioritise the importance of deepening regional economic ties following the announcement of sweeping US tariffs on the bloc’s member nations as well as leading them in engaging Washington in talks to potentially reduce retaliatory tariffs on imports into America.

China on Thursday urged the US to immediately cancel its latest tariffs and vowed countermeasures to safeguard its own interests, after President Donald Trump declared sweeping levies on US trading partners around the world.