Image from YouTube (Video uploaded by Depressed Ginger)
As the Trump administration ramps up its trade offensive, nations are reeling from steep demands to even begin tariff talks. First, the UK faced a barrage of ultimatums; now, Vietnam is in the crosshairs, grappling with 46% tariffs on its U.S. exports. Below, we explore Vietnam’s negotiations with Team Trump and the high-stakes concessions on the table.
Vietnam has taken swift and proactive steps to negotiate tariff relief:
• Communist Party General Secretary To Lam was among the first world leaders to contact Trump after the tariff announcement. On April 4, 2025, they held a phone call described by Trump as “very productive,” where Lam proposed eliminating tariffs on U.S. goods.
• Deputy Prime Minister Ho Duc Phoc was despatched to Washington, meeting U.S. Trade Representative Jamieson Greer on April 9, 2025, to initiate formal trade talks. These discussions aimed to reduce non-tariff barriers and explore a bilateral trade agreement.
Vietnam offered to:
• Reduce tariffs on U.S. imports to zero, addressing the 9.4% average tariff Vietnam applies.
• Increase purchases of U.S. goods, such as Boeing planes, agricultural products, and potentially oil and gas.
• Tighten controls on Chinese goods transshipped through Vietnam to evade U.S. tariffs, including new declaration and approval procedures.
• Approve favourable conditions for Starlink, Elon Musk’s satellite communication service, and potentially accelerate a $1.5 billion Trump resort project. (Yes, you heard that right: a $1.5 billion Trump resort. Is this even legal?)
• Business Advocacy: The Vietnam Chamber of Commerce and Industry and the American Chamber of Commerce in Hanoi jointly urged the Trump administration to delay the tariffs, arguing they would harm bilateral trade and U.S. consumers.
The Trump administration’s demands reflect its broader “America First” trade agenda, focusing on reducing trade deficits, curbing transshipment, and securing economic concessions. Specific demands include:
• Trump has emphasised Vietnam’s $123.5 billion trade surplus, with Vietnam exporting $15 worth of goods to the U.S. for every $1 imported.
• The administration seeks significant increases in Vietnamese purchases of U.S. goods to balance trade. Treasury Secretary Scott Bessent has highlighted Vietnam’s need to buy more American products, such as energy and agricultural goods, to offset the deficit.
• A key demand is for Vietnam to stop Chinese goods from being relabeled as “Made in Vietnam” to bypass U.S. tariffs on China. Trade Counselor Peter Navarro called Vietnam “a colony of communist China” for facilitating transshipment, a practice the administration views as “non-tariff cheating.”
• Vietnam has proposed stricter trade controls, including new procedures to verify the origin of goods exported to the U.S.
• The administration is pushing Vietnam to reduce non-tariff barriers, such as regulatory restrictions or currency manipulation, though specific barriers have not been publicly detailed.
• Navarro dismissed Vietnam’s zero-tariff offer as insufficient, emphasising that non-tariff issues are the priority.
• The Trump administration appears to favour deals that align with broader U.S. interests, such as approving Starlink or facilitating U.S. investments, namely the reported Trump resort.
• Trump has signaled openness to negotiations but insists on substantial concessions, with no guaranteed tariff reductions. Treasury Secretary Bessent noted that offers must be “believable” and address long-standing trade imbalances.
While Vietnam has made significant offers, the Trump administration has not committed to reducing the 46% tariff, and talks remain ongoing. The administration’s focus on Vietnam as a conduit for Chinese goods complicates negotiations, as Hanoi must balance U.S. demands with its economic ties to China, its largest trading partner. Chinese President Xi Jinping’s visit to Hanoi on April 14, 2025, underscored this tension, with Xi urging Vietnam to oppose “unilateral bullying” (implicitly the U.S.), while Vietnam signed trade agreements with China.
Vietnam’s negotiations are an early test of Trump’s tariff strategy, which has shaken global markets and drawn criticism for its economic impact. The administration’s hardline stance, as articulated by Navarro and Bessent, suggests that Vietnam must offer substantial concessions to secure relief. However, Vietnam’s economic reliance on U.S. exports (30% of GDP) gives it little leverage, forcing it to navigate a delicate balance between appeasing the U.S. and maintaining ties with China.
Vietnam asks Trump to delay implementation of tariffs while the two sides negotiate, John Ruwitch, NPR
Vietnam’s Tariffs Offer Rejected by Trump Adviser – ‘Not a Negotiation’, Hugh Cameron, Newsweek
Exclusive: Facing Trump tariffs, Vietnam eyes crackdown on some China trade, Francesco Guarascio, Reuters News
With tariff gambit, Trump pushes Vietnam to choose between U.S. and China, Washington Post (paywalled)
Trump threatened Vietnam with a huge tariff. How’s that going over in Little Saigon?, Gustavo Arellano, Los Angeles Times
How Trump tariffs could push Vietnam into the arms of China, Rebecca Ratcliffe, The Guardian
As Trump threatens tariffs, Vietnam scrambles to avert economic disaster, Govi Snell, Al Jazeera
Trump’s tariff battle with China has ‘echoes of the Vietnam war’, US economist says, Phillip Inman, The Guardian
Trump, Vietnam’s Lam agree to discuss tariffs deal, to meet soon, Khanh Vu and Francesco Guarascio, Reuters News
China’s Xi urges Vietnam to oppose ‘bullying’ as Trump mulls more tariffs, Annabelle Liang, the BBC
Vietnam fast-tracks approval for Trump resort in mad dash to stave off tariffs: report, Travis Gettys, Raw Story
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The underlying problem that Canadian Prime Minister Carney correctly identified and exploited is the present reliance of successive American government relying upon loan moneys. So Canada went out and purchased several hundred million dollars worth of US government bonds at a cheap price and started the interest rate rise of US government bonds, a negative economic signal in the investment industry.
He also spoke with European Finance Ministers presently holding large quantum of US government bonds and co-ordinated a response to Trumpery bullying policies.
Then Trumpery's ''dislike'' of PRC CHINA is not ameliorated by the huge multi-trillion dollar holding of US government bonds.
US government bonds have risen from about 2.5% to 4.5% and are likely to rise even higher, meaning that government spending will be more expensive.
Perhaps Trumpery will have to ''encourage'' the billionaires to pay Federal income and corporate taxes ..... but DO NOT hold your breath.
The 19th century economic powerhouse that became modern America was built on supplying the national population as it expanded west invading, displacing and dispossessing Indigenous Americans.
Now consider the economic potential of the combined SE Asian markets of India, Bangladesh, Vietnam, PRC China ..... about 4 BILLION persons requiring all the manufacturing output that currently goes to American and Europe.
I have long imagined the growth of an Asian centred bloc, freed from old rotten post colonial residuals, with a China centred core, no USA, growing and attracting, with European market inclusion, with Russian resources available, with immense populations of keen wouldbe advanced consumers, with unlimited future strength, wealth, domineering power. Africa and Sth. America will align more.., and we here must be "ready."
Trust in the capricious T-Rump America has vaporized, not only across the world, but also within America. T-Rump has always been a bitter bully-boy loser. He launched off his fathers wealth, which he lost, then through strings of con jobs, ransomed his way via serial-entanglement, tax avoidance, personal threats and bombast. The totality of his so-called empire is a febrile house-of-cards. And that's what he's turning America into.
More wise heads in Asia need to counsel Vietnam as to a better way forward.
What EVERY nation in the world OUTSIDE of Trump's now insular, protectionist version of America - currently being mismanaged into obscurity by that diabolical power-obsessed megalomaniacal narcissist, Trump, a thoroughly degenerate CONVICTED CRIMINAL - needs to do RIGHT NOW is to SNUB, ignore and REFUSE to import ANYTHING or have ANY business dealings (whatsoever) with America for as long as that reprehensible BULLY (Trump) is in fascist power! We all now need to make Trump CRAWL on bended knees BEGGING (once) loyal allies to "forgive and forget" his depraved betrayal of countries that sacrificed the lives of their OWN citizens to support America in its depraved wars throughout the world INCLUDING that ILLEGAL invasion of Iraq by that OTHER notorious Republican sociopath, George W Bush! Never again! America can now fight its OWN battles = to hell with Trump and to hell with America!
The world does NOT need America and, most certainly, Australia does very little trade with America these days outside the importation of an ever-reducing number of over-priced American cars. China and Japan are Australia's #1 trading partners and have been so for decades! The world OUTSIDE of America must wake up and realise, for once and for all, that the world does not only NOT need America, the world should not want ANYTHING TO DO with that criminally corrupt political psychopath, Trump! Only when Americans wake the fcuk up and IMPEACH that reckless, totally unconscionable, short-sighted, misogynistic predator, Trump - who is about as popular as a fart in an elevator, will America re-gain any level of credibility! Trump is despised outside of America (by everyone except, of course, the Trump-supporting psychopaths in the equally depraved LNP in Australia or the condescending elitists in the UK Tories) but is also justifiably despised by those intelligent, compassionate and foresightful Americans who either refused to vote for him or were foolish enough to choose NOT to vote! Yet ANOTHER reason why Australians are SO GRATEFUL that we have COMPULSORY VOTING in our nation!
The situation has deteriorated in Trump's sick, twisted America so rapidly and so badly that America can now only win back the respect, credibility and integrity it has LOST because of the unspeakable level of corruption, stratospheric arrogance and relentless self-serving entitlement of that CONVICTED CRIMINAL whom misguided, Murdoch-manipulated Americans voted into a level of fascist power not seen outside of a third-world African dictatorship! The manner in which Trump continues his hateful, totally irrational, xenophobic demonisation, persecution and deportation of American immigrants whilst marrying a Slovenian immigrant, Melania, is the HEIGHT of breathtaking hypocrisy by a vicious, insignificant, small-minded little racist who believes he can say and do ANYTHING he wants without consequence!
Whatever goods, services or supplies countries need, they MUST now look elsewhere - to other destinations throughout Europe, Australia, New Zealand, Asia, Africa - ANYWHERE but America. In this way, Trump's sick, twisted vision of a Pariah America will, WELL AND TRULY, become the isolated, totally uncompromising, protectionist, hateful - and eventually absolutely ignored - nation Trump wants it to be! Clearly, that intellectual midget, Trump, has paid no heed to the truthful old adage: "Be careful what you wish for!"
This “America first” jingo is all bullshit. “Trump first” is the real narrative.
Things are complex, never simple, but really? Why would Vietnam bend over backwards to facilitate and maintain trade levels with the country who so determinedly ravaged, razed and destroyed it so cruelly and viciously a mere ~50 years ago? I would have thought far-seeing Vietnamese leaders would have, could have, should have done everything in their power to develop close economic ties with every country except America.
Interesting, and opportunities for Asia-Pacific, the EU etc as Trump's US withdraws from the world often throwing its own allies under a bus; not just trade, but issues of trust.
In Australia's case many way overestimate our levels of Anglosphere trade (US behind China, Japan, the EU and now ranks with India, Sth Korea; UK is no longer top ten) more nostalgic PR and 'shaping' by Howard, Murdoch et al, but has thrown us off course for a generation....
We were moving towards being a more Eurasian nation matching our societal culture, but not political, media and corporate still dominated by skips, yet fast becoming a minority (~50% pop'n now); especially post boomer and urban centres.
Diplomatic writer Grant Wyeth had a great metaphor or analogy on Albanese turning up on UK 'The Rest is Politics' with Campbell and Stewart, when asked of his favourite music (Cold Chisel.... more about domestic Oz politics):
'Albanese used a softball question on @therestpolitics.bsky.social to promote an obsolete vision of Australian culture, and revealed the disconnect between an emerging Australia culture and the political class...
...Something is happening in Australia & political class seems unaware. There is a massive cultural shift taking place that is important for it’s integration into Asia...Australia’s most successful musical artists are in KPop groups'
https://www.grantwyeth.com/p/a-cold-chisel-mind-in-a-newjeans