09.09.202508:44:55UTC+00Vietnam’s Exports to US Dip in August Amid New Tariffs

Vietnam experienced a 2% decline in exports to the United States, its largest market, in August 2025, bringing the total to USD 13.94 billion. This contraction resulted from the new tariffs implemented by the US, as revealed by Vietnamese Customs data on Tuesday. Previously, in July, the US and Vietnam struck a trade agreement where the US agreed to levy a 20% tariff on Vietnamese imports—a rate much lower than the previously considered 46% in April, yet higher than the earlier 10% rate during a temporary 90-day relief period. Despite this monthly setback, Vietnam's exports to the US still witnessed a significant 18.3% increase compared to August last year and surged by 26.4% in the first eight months of 2025, totaling USD 99.1 billion. In 2024, exports to the US constituted about 30% of Vietnam's GDP. Concurrently, Vietnam's overall exports grew by 14.5% year-on-year, amounting to USD 43.39 billion in August. Cumulatively, total exports for the year rose by 14.8%, reaching USD 305.96 billion.