Us-vietnam trade deal: While the new trade deal between the US and Vietnam has raised the concern of India on one side, on the other hand it is also a big learning, especially for the exporters who also consider Vietnam as an important competitive country. Global Trade Research i.e. GTRI has said this in its report.

Surprised by US-Vietnam deal

This report said that in the year 2000, there were historical business agreements between US-West. In this, it was consumed to put 2 to 10 percent concession tariffs on the entry of Vietnam goods in America. But despite this, in this new deal, 20 percent tariff has been imposed on entry of all the goods coming from Vietnam in America.

The direct impact of this deal is set to fall on the $ 135 billion exports from Vietnam, which has overturned the liberal trade policy of two decades. GTRI says that Indian exporters consider Vietnam as their competitor. In such a situation, where India needs to learn from this deal, on the other hand, there is a need to see your strategy on the other side.

Big lesson to India

In this new deal, the product exported to the US has been kept free from customs in Vietnam. However, the US has kept the tariff rates very high on the goods coming from Vietnam. The already proposed tariff has been collected in 46 percent, but the bilateral trade agreement between the two countries in 2000 has been doubled or three times more tariffs.

Since 2001, the export of Vietnam goods like clothes, shoes, sea fish, handmade products and agricultural products in the US market benefited due to low tariffs. After this, exports of Vietnam goods in the US market increased from $ 800 million to $ 135 billion.

In such a situation, due to the introduction of 20 percent new tariff rates on Vietnam goods, he will not get the same benefits as before. Also, his competition in the US market will also weaken. Apart from this, concern has also been expressed in the report on the tariff of 40 percent on China’s goods being sent from the route of Vietnam.

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Us-vietnam trade deal: The trade agreement has been reached between the US and Vietnam. After this, now 20 percent tariffs will be imposed on the goods being exported to the South-East Asian country of America. In this agreement, it was also decided that zero tariffs will be imposed on goods to be exported from America in Vietnam.

American goods will be attached to zero tariff

Trump announced this on Truth social and said that with this agreement, America will get tariff-free access in the markets of Vietnam. Vietnam has also agreed that 40 percent tariffs will be imposed in terms of trans-appearance from another country. That is, if the goods sent from another country come to Vietnam for final shipment in America, then 40 percent tariff will be imposed on it.

Vietnam was on 46 percent recipes on Tariff

Let me tell you that earlier in April, Trump had imposed 46 percent tariff on Vietnam under reciperook tariff. Then on April 9, giving relief from heavy tariffs to many other countries including Vietnam, reduced the tariff rate for 90 days and put a baseline tariff of 10 percent. Now this deadline of relief for 90 days is ending on 9 July.

Vietnam’s demand from America

Vietnam wants America to recognize him as a market economy so that products made in Vietnam will become more competitive in American markets. This will increase exports and will boost the economic development of the country. This will also invest more in Vietnam and this will give a boost to the supply chain. Not only this, if America recognizes Vietnam as a market economy, then the anti-dumping charges on Vietnam’s products will also decrease.

How much is there business in both countries?

Quoting the census bureau data, Reuters said in their report that Vietnam’s exports to the US in 2018 were $ 50 billion, which increased three times in 2024 to about $ 137 billion. At the same time, there has been an increase of only 30 percent in exports from America to Vietnam.

Eyes on India

Trump has recently indicated a trade deal with India as well. Recently, the US President while talking to reporters said, “Our agreement with India is going to be done. If this happens, the deal will be on very little tariff. ”This will make it easier for both countries to trade.

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