Vietnam Reportedly Lowers Tariffs on Some US Imports Ahead of Possible Trump Duties
Vietnam is reportedly reducing tariffs on imported American liquefied natural gas, ethanol, automobiles and other goods as part of a bid to reduce its trade surplus with the U.S. and avoid facing increased duties imposed by the Trump administration (see 2502130030).
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The country’s new tariffs will be 2% for LNG (down from 5%), 5% for ethanol (down from 10%), and 32% for autos (down from a range of 45% to 64%), Reuters reported March 26. Vietnam also will remove tariffs on ethane and will lower rates on imported chicken thighs, almonds, apples, cherries and wooden products, the report said. The new rates are expected to take effect after a government decree is published later this month.
Vietnam also recently issued a decision to allow SpaceX, owned by Trump adviser Elon Musk, to launch its Starlink satellite internet service on a trial basis in the country, the report said.