The additional tariffs imposed by the United States have begun to curb Vietnam's export momentum and brand gross margins. The World Bank has already lowered Vietnam's growth rate for 2025 to 6.6% on September 8. However, the Vietnamese government's think tank still adheres to the target of 8.3 to 8.5 percent, stating that "macro conditions are favorable."

Starting from August 7, 2025, the United States will impose a uniform 20% tariff on most Vietnamese goods exported to the US, and a 40% tariff on goods from third countries that are identified as "transshipped through Vietnam".

In the same month, Vietnam's exports to the United States dropped by 2% month-on-month to 13.94 billion US dollars (USD). However, on an unadjusted basis, overall exports in August 2025 increased by 14.5% year-on-year.

Vietnam's export markets are facing unprecedented pressure, especially to the United States. In August 2025, Vietnam's exports to the United States dropped by 2% month-on-month to 13.94 billion US dollars. Meanwhile, the United States imposed a uniform 20% tariff on most Vietnamese goods exported to the US and a high 40% tariff on third-country goods "transshipped through Vietnam".

This policy has directly impacted Vietnam's export-oriented economy, especially its traditional advantageous industries in the textile sector. Meanwhile, Vietnam's imports from China increased by 27% year-on-year, reaching 117.93 billion US dollars, demonstrating its heavy reliance on foreign materials.

The export momentum has shrunk under the impact of tariffs

The United States' tariff policy on Vietnam will officially come into effect on August 7, 2025, imposing a uniform 20% tariff and a high 40% tariff on "transshipment" goods.

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