Survey on the impact of reciprocal tax policy on enterprises exporting to the United States

The product groups affected when the US imposes a 46% tax include seafood, plastic, rubber, wood, paper, pulp, textiles, footwear, machinery, equipment, components, machinery and equipment, electronics, etc. Illustrative photo

US President Donald Trump has just announced a new tax policy, applying a basic tax rate of 10% on imported goods and higher reciprocal taxes for more than 60 countries, including Vietnam.

Vietnam has a reciprocal tax rate of 46%, the second highest on the list (only behind Cambodia's 49%). According to experts, this new tax rate will be very disadvantageous for Vietnamese goods when exported to the US market. In particular, the affected product groups include: Seafood, plastic, rubber, paper, pulp, textiles, footwear, machinery, equipment, components, machinery and equipment, electronics, etc.

With the aim of accompanying businesses in the current period of fluctuations and challenges, the Foreign Investment Agency, Ministry of Finance and Deloitte Vietnam jointly conducted a survey on the Impact of reciprocal tax policies on businesses exporting to the United States.

The survey helps businesses share the expected impact of this policy on their operations, as well as recommendations and proposals on forms of support from the Vietnamese Government. According to the organizer, the information in the survey will be collected in accordance with the published information security policies and regulations.

Businesses and related units can participate in the survey here .

Vietnam is the 8th largest trading partner of the United States, accounting for 4.13% of total exports to this market.

According to statistics from the Ministry of Industry and Trade, in 2024, the export turnover of goods to the United States reached 119.5 billion USD, accounting for 29.5% of total export turnover. Of which, there are 16 groups of goods exported to the US with a turnover of 1 billion USD or more. Typically, exported computers, electronic products and components reached more than 23.2 billion USD; machinery, equipment, tools and spare parts reached 22.05 billion USD; textiles reached 16.1 billion USD; phones of all kinds and components reached 9.82 billion USD; wood and wood products reached 9.06 billion USD; footwear of all kinds reached 8.28 billion USD...

According to updated statistics from the Customs Department (Ministry of Finance), in the first two months of 2025 alone, export turnover to the US market reached 19.56 billion USD, an increase of 16.5%, equivalent to an increase of 2.77 billion USD over the same period last year. Currently, the US market accounts for 30.43% of the country's export turnover. Of which, there are 6 groups of goods exported to the US reaching 1 billion USD or more, including: computers, electronic products and components reaching 4.33 billion USD; machinery, equipment, tools and spare parts reaching 3.3 billion USD; textiles reaching 2.46 billion USD; phones and components reaching 1.95 billion USD; wood and wood products reaching 1.3 billion USD; footwear reaching 1.29 billion USD.

5 recommendations of the Ministry of Industry and Trade for businesses when the US imposes a 46% reciprocal tax

Source: https://phunuvietnam.vn/khao-sat-tac-dong-cua-chinh-sach-thue-doi-ung-den-cac-doanh-nghiep-xuat-khau-sang-hoa-ky-20250404081833255.htm