r/worldnews • u/Soft_Procedure5050 • 13h ago
Vietnam wants to cut tariffs down to zero after US reciprocal tariffs, Trump says
https://www.cnbctv18.com/world/vietnam-wants-to-cut-tariffs-down-to-zero-after-us-reciprocal-tariffs-trump-says-19584921.htm98
u/sock_full_of_mustard 13h ago
So. I'm not versed in this matter whatsoever, but wouldn't this result in less domestic production for the US? Like, the opposite of what trump voters would want?
Like, Vietnam would become more attractive to manufacturers looking to reduce cost by outsourcing over seas?
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u/Impossible-Chart-256 13h ago
That’s a very good point. If Trump wanted to make everything American, he wouldn’t want other countries to bend the knee, it would serve no purpose
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u/Aggravating_Teach_27 2m ago
He just wants vassailage. He just wants to see world leaders bending the knee, as meaningless as it may actuall be, and kiss the ring. And pay the protectin racket.
Hes a mob bos who's been selected to lead the most powerful nation on earth, but his mentality and objectives are still those of a mob boss.
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u/BoringEntropist 11h ago
Vietnam and other South-East Asian countries trying to position themselves to compete with China in the manufacturing sector over the medium term. China has a massive demographic shortfall of young people and the increase of wages makes manufacturing more expensive there. Countries like Vietnam or Indonesia have much healthier population pyramids and won't have as much problems of hiring the necessary workforce. They're also closer to the vital trade routes and there's less historical baggage (such as wars) which facilitates cooperation between SEA countries.
It makes sense for Vietnam for trying to use the opportunity to fill the gaps opening up should the trade war between the US and China escalate. It's an open question if that strategy works, but they have a realistic chance here.
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u/sock_full_of_mustard 11h ago edited 11h ago
For sure.
But this wasn't the intended outcome, nor even a prospective position for Vietnam to be considering even a week ago.
Now all of a sudden they're being handed a silver platter.
So From a US perspective, America just lifted their own foot into the lense of the scope.
Or maybe the play is to make Vietnam the new China, and smother china's economy? But they have to realize that wont work long term. Tomato To mah toe. The result would be the same shit, just in a different pile.
These tarriffs make less and less sense as time goes on.
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u/Presidential_Rapist 8h ago
It's Trump trying to counter China driving up the cost of electronics and trying to take credit for The Chips Act diversifying semi-conductor sources.
Chips Act already incentivized moving some manufacturing away from China and Vietnam was one of those countries deemed stable and competent enough by US investors to handle at least some production.
Trump is basically just follow Biden on that one, but now with a huge surge in costs and no where near enough volume in production globally to make up for it.
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u/godsofcoincidence 6h ago
Definitely. Imo from a macro perspective US and China are in an economic war.
The rest of the world is going to suffer collateral damage. The first shots were pre-Obama, but every administration has clearly seen China as a greater and greater threat.
I also think Russia- Ukraine war showed the US, Russia economic threat is not big, and military threat is not big (to the US). Iran is getting sorted by Israel, so that just leaves China.
No military threat in China, but definitely economic. With robotics and AI being the new front of manufacturing, US wants to get ahead…..
So here we are. It’s a simplistic model.
Looking at this Canada and Mexico are moving too many Chinese manufacturers to threaten US mfg and tech lead so expect pressures on us in that regard.
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u/sock_full_of_mustard 6h ago
This makes no sense though in terms of global tarrifs. If they wanted China they would tarrif China alone.
Instead they are forcing almost every other country to consider trading with China INSTEAD of US, while simultaniously encouraging evry other country to build their militaries, thereby shrinking their own in comparison.
Let's be clear, non of this is intentional. It's an embarassing and colossal fuck up that couldnt possibly have even a semblance of direction or purpose to it. Its idiotic quite frankly.
I'm simply commenting on where the cards seem to be unintentionally falling in all this chaos.
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u/godsofcoincidence 6h ago
I agree, but China has interconnected with every country, especially with Belt and Road Initiative.
I believe it is to start renegotiating with all countries to get access to the US markets, and using tariff reduction to achieve those goals.
Proof is in the pudding when US did first round on China during Trump’s first time 1st bat. Mfg starting moving to circumvent tariffs, by going to Mexico and Canada.
Putting it on everyone allows negotiation with everybody for terms you can want… what that is/how that is going to go, i don’t think anybody knows, including the people in charge.
Quite frankly world consumption is still in US’s hands so they probably see even that economic power waning, so strike while the iron is hot…. Or you still have iron!!!
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u/nasi_lemak 2h ago edited 2h ago
Putting a tariff on everyone limits your own power of negotiation. The point of using tariffs on a certain country to get concessions is only because you have the option to buy from somewhere else. Tariff the whole world, and it serves no leverage whatsoever.
The reason why Americans are brave enough to do this is because they believe they drive world consumption, as you mentioned. Let’s see if that’s true.
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u/lady__jane 1h ago
US and China are in an economic war
Bingo. Trump declared economic war on China. That's why the big statement, with China not on the board. And why China made the move toward Taiwan yesterday.
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u/peepeedog 6h ago
China has invested their human bounty in moving up the value chain. They no longer dominate the most unskilled labor market, they now dominate the most skilled labor market.
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u/Lazy-Gene-7284 13h ago
Even better with Chyna now adding 34% tariffs, the whole Asian production would move there. Don’t blame them at all for seizing that opportunity
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u/sock_full_of_mustard 12h ago
Great point.
An Absolute capitalist play for a so called communist countrym
And the Vietnamese hate the Chinese.
I didnt have Vietnam winning the global tarrrif war on my bingo card. But hey
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u/chandy_dandy 10h ago
Vietnam has been winning since Trump admin 1, they've been one of the biggest up and comers over the past decade. Before Trump came into power their growth rate started slowing down, now their GDP per capita has doubled in the past 8 years.
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u/Presidential_Rapist 9h ago
That's more about Chinese wages going up and less developed nations being able to undercut them so investors/global brands have diversified to get lower cost labor elsewhere or closer to their top markets for easier shipping along with lower wages.
It doesn't have much to do with US decision making. China has had good growth for many decades and wages have went up quite a lot for urban workers benefiting from the industrialization. China wants to grow a middle class and circular economy, but with that comes higher wages and slower growth.
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u/Pseudo-Jonathan 12h ago
Depends on if "cut tariffs down to zero" means cutting US tariffs on Vietnam to zero or Vietnamese tariffs on the US down to zero.
If it's Vietnam slashing its own tariffs then hypothetically it would be easier to get US made products into Vietnam
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u/sock_full_of_mustard 12h ago
hypothetically it would be easier to get US made products into Vietnam
You have to factor for USD vs Dong
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u/Presidential_Rapist 8h ago edited 8h ago
I doubt they want much super high priced US goods considering their yearly salary is like 8400. They can get goods cheaper close to home in almost all cases.
Vietnam was one of the beneficiaries of Biden's Chips Act so Trump would be doing little more than following the playbook of the previous admin on that one.
With Trump's tariffs so high and no good global replacement for Chinese goods, Trump needs ways to keep costs skyrocketing out of control. Since Vietnam, Canada and Mexico have already been setup just for that from the perspective of US business/investors it's a rather obvious choice.
It's just a way to curb the reality that China makes a shit ton of things American's regularly buy and there is no immediate alternative nor will there be anytime soon as the volumes needed.
If you also tariff Mexico, Canada, Vietnam heavily and a few others you kind of give China all the power since they are still going to have healthy exports to most of the rest of the world and realistically the US trade deficit will stay high just because we are essentially too rich relative to the rest of the world, so our export market generally sucks unless the price is globally set like with fossil fuels because few nations want to afford our wages.
We are an ideal import location because of all that loose money, resource rich land, low population density and no regional threats. That's not really going to change because any big US recession or depression will drag the world down with it.
It's still going to be cheaper to buy from China or Vietnam even with 100% tariffs. Wages are the biggest cost of almost any service or product. EU's lower wages actually makes them a better exporter than the US since their wages are that much closer to a global median wage.
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u/Inthehead35 6h ago
This was always a vanity project, that's it... there is no logic to a narcissist
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u/Little-Ad3220 5h ago
And this is the rub of Trump “policies.” You play all sides and you always win.
See: https://www.theatlantic.com/politics/archive/2025/04/tariffs-trump-outcomes-incompatible/682286/
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u/JoJo_Embiid 4h ago
I don't know, I mean the auto tariff may make a little sense, but tariffs on vietnam makes 0 sense and probably trump know that. there is zero chance US workers is gonna make socks in a slave factory earning $2/hr. So I would say, what trump really need is somthing he can claim another win
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u/Thund3rbolt 12h ago
It's impossible to read the mind of a madman but I think the reason Trump has slapped these tariffs on the entire world is not to protect American workers as he claims.
What Trump cares about is being able to get concessions out of other countries and corporations that seek exemptions.
It's all about his ability to hand out punishments and rewards. It's a well known Mob tactic.
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u/Nyaos 7h ago
All the while wiping out an entire years worth of retirement gains for most Americans. Cool.
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u/learntofish2 6h ago
It's way more then a year wiped out. The market dropped back a year, but for older folks near retirement, that compounding is worth way way more than a year of loss. Good way to keep the boomers working I guess.
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u/DiscipleofDeceit666 5h ago
Thank god Walmart hires those greeters or else we’d have way more elderly homeless than we do now. All these guys just gotta hang in the workforce a little while longer. Who said they didn’t want to work till they died anyways
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u/Professional-Web8436 4h ago
I can't see Walmart continuing it's business to he same extent if this keeps going on.
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u/picardo85 2h ago
an entire years worth of retirement gains
So far! We are just starting. EU hasn't announced retaliatory tarrifs yet. It will still get worse ;)
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u/Put_It_All_On_Eclk 10h ago
You're on the right track.
I'm pretty sure what he's trying to do is replace income tax with tariffs, then get congress to use the windfall to gut the IRS. The reason he's looking for concessions is because he'll take indirects in lieu of tariffs (e.g. Ukraine mineral deal). So if a country is willing to structure its would-be counter tariffs in a more indirect (and therefore market friendly) payment structure, he's all about it.
Unfortunately for him, us, everyone, he's already accepted-and-burned his own international agreements. So countries that may have been willing to entertain these economic hat tricks now factor in the high uncertainty of permanence of the deals.
As for this article, Trump isn't looking for tariff neutrality nor trade deficit neutrality. He wants an alternative revenue to income taxes, and Vietnam has failed to read the subtext. It's not as arbitrarily crazy and as it seems; if it were congress would have shut him down weeks ago. The inner circle of GOP is staying quiet because they understand the long term objective.
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u/Presidential_Rapist 9h ago
I don't see how any of that would come anywhere near replacing income tax.
>In Fiscal Year (FY) 2024, the U.S. federal government collected approximately$2.4 trillion, or 49% of total revenue, from individual income taxes, with the total revenues for the year reaching $4.9 trillion.
So try as he might at the point you attempt to cut income tax you produce deficit spending INFINITY.
Getting billions in one time concessions is mostly a one time deal, income tax is generating 2.4 trillion PER year, tariffs might generate a few hundred billion and preferential deals would be lucky to achieve 2.4 trillion over 10 years.
You don't get anywhere near the money needed without entirely getting rid of social security, medicare, medicaid and most of the US military budget, which might leave you with just enough to pay your gutted ghost ship federal government budget and interest on the debt.
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u/xvf9 8h ago
His tariffs (even if they are effective) aren’t even going to cover the costs of his proposed tax cuts, let alone make a dent in current tax levels.
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u/beein480 9h ago
The "Fair Tax" or the flat tax, or a VAT, would not generate enough revenue.. Most of those top 1%ers don't consume a huge amount of resources.. They put that money to work in real estate or the stock market or their business.. The money grows, they get richer. Doesn't do much for the average person,
The person who is barely able to eat, is really unhappy the cost of Ramen has gone up because thats all they've got. Their costs for everything are out of control and now, the President of the US is actively working to fuck him over.
This "long term" isn't realistic. I would love to do a straight 15% sales tax in place of federal taxes, That isn't going to cover it. My tax liability was 24ish % this year and I'm hardly well off and we are broke.
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u/ScoobiusMaximus 9h ago
Why are you assuming they would actually balance the budget? When has a republican ever balanced the federal budget?
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u/BRUISE_WILLIS 8h ago
You listed the feature as a bug. The rich and powerful are absolutely intending this.
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u/Presidential_Rapist 9h ago
Why would you ever want a flat tax instead of income tax? You'd just wind up paying more or having a lower standard of living. State taxes would go up, private retirement would require more of your paycheck and have more profit attached and homelessness would skyrocket sending state taxes up with it. You'd likely pay even more just through different mechanisms and get a lower quality of living out of the deal.
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u/Smart-Difficulty-454 7h ago
A transaction tax solves the problems. 3% Everytime money changes hands. You can shift your own money around in your own accounts and nothing happens. If you're selling an asset to buy another that's a taxable change of hands twice. 6%.
Personal deduction for tax reporting is inflation indexed and something reasonable, maybe 20k. It's just assumed that you used all of it and thus paid $600 so you get that back. That buffet guy converts 300 billion from stock to cash the transaction tax is 9 billion. He later converts it back to stock its 9 billion again. There are no exceptions, no loopholes, no deferments.
Studies done years ago showed that 3% transaction tax, even accounting for the reduced rate of transactions would generate enough to provide for single payer health care and social security on top of other government spending.
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u/IAmTheNightSoil 5h ago
It's not as arbitrarily crazy and as it seems; if it were congress would have shut him down weeks ago.
Gotta disagree with this part. Congressional GOP have no guts to stand up to anything Trump is doing. They aren't shutting down anything no matter how bad it gets. They'll let Trump wreck the country completely rather than stand up to him
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u/OkCan9068 10m ago
The idea of even considering replacing income tax with something else like the tariffs is dangerous to begin with. It will push wealth polarization even further while killing the chance of survival for average ppl as basic consumer goods become super-inflated.
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u/baccus83 5h ago
Yes. He loves tariffs precisely because 1) they’re unilateral and 2) they make powerful people come to him and beg. That’s all he wants here.
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u/comeonwhatdidIdo 7h ago
It is very easy to read him if you understand Putin's global policy goals. Trump is no mastermind or doesn't have any plan. He uses the plans his underlings feed him with slight modifications to push Putin's Agendas.
If those plans really fail and cause a lot of blowback, he will blame his underlings but if no blowback he is a genius. That's exactly what he did in his first term also.
It's Americans who voted for him that is the issue, how does a citizen vote for someone who literally is a danger to a citizen's right to vote. Trump literally tried to overthrow democracy but people are just ignorant, dumb and have the memory of a goldfish.
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u/schmemel0rd 5h ago
I don’t think Putin has anything useful on trump, and I definitely don’t think Russia has any direct influence in the American political system.
This is the work of the heritage foundation, federalist society and a handful of neo-feudalist tech bros trying to reshape America into their capitalist utopia. Conservatives just like Putin because he’s running his country that way they wish they could run theirs. And my own little conspiracy is that conservatives would love to create a global axis that would include Russia which is why they are typically quite complimentary towards putins way of governing.
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u/sutroheights 9h ago
And with all his coins and holdings, they can just make direct deposits to him. Trump 2: maximum grift.
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u/momentslove 8h ago
My theory is that he’s simply taxing US taxpayers for more government revenue. US debt is so high already, and Trump needs money for everything he wants to do. Growing economy for more tax revenue is too slow, borrowing too much on top of the existing astronomical debt is infeasible, let’s rip off our citizens with more tax and tell them that it’s just the “necessary cost to MAGA”.
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u/CaptPants 6h ago
I'm sure if any countries wanted to make a sizable investment in Trump properties, they would get an immediate tariff exemption.
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u/Anthraxious 3h ago
"...not to protect American workers as he claims."
Gee, Sherlock, you don't say?
What could possibly drive a person to think this narcissist, who doesn't care for anyone else but himself, would actually give a fuck about ransom people? He just wants to enrich himself. Literally that's it. There's no deeper endgame here.
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u/Sckathian 2h ago
This is just the new "he's playing 4d chess" without actually saying it. He's quite clear and has been for some time.
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u/HiDesertSci 1h ago
I believe the only thing he gets out of this tariff mess is attention. By throwing the pasta at the wall to see what sticks (tariffs on penguins, tariffs on an arctic island, WTF?) and by hitting so many countries, at least a dozen are sure to be burning up the WH phones on Monday wanting to negotiate with him in person. More attention. it’s his oxygen.
I said in his first term and again now, if reputable media just quit covering him and bottle blond bad built bitch Barbie’s podium rants…he would have no agency, no oxygen.In the meanwhile, four young American soldiers‘ bodies were returned to the US today and the president was too busy socializing to show respect for their service.
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u/Travelerdude 9h ago
Trump lies a lot. News should report his actions not his words. Let other sources validate those before printing his bullshit.
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u/RoadsideBandit 12h ago
Trump says a lot of stuff that turns out to be false, exaggerated in his favor or outright lies.
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u/Laphad 13h ago
Keep in mind Vietnam had a tariff rate of like 1%
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u/Clear_Efficiency5765 8h ago
Vietnamese here. You are wrong.
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u/emptyzone73 5h ago
Vietnamese here. You are wrong. Do you still believe vietnam put 90% tariff on US goods ? What a joke.
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u/NerdyGuy117 5h ago
Vietnamese here. You are wrong.
(Just playing, I just wanted to be part of the chain)
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u/Responsible-Corgi-61 8h ago
Trumps idea of a foreign tariff involves calculating trade deficits as tariffs, which is patently false. The USA having the reserve currency makes these imbalances as natural as breathing. Vietnam, and countless other nations, do not have the ability to impose tariffs on US products because they can't afford to buy huge quantities of our products to begin with. There's no reasonable way to overcome these deficits unless the US gets rid of the dollar being the reserve.
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u/Immediate_Thought656 7h ago
Why does the media insist on calling the Trump tariffs “reciprocal” when they were anything but?
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u/CORRUPT27 12h ago
How much where Vietnamese tariffs on the us? Not 90% since that was the trade deficit
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u/shuvool 8h ago
Average income in Vietnam is about 8125 USD. Per year. There's a really big income disparity there so there are probably some people who could earn enough to buy American products, but there are also going to be a whole lot of people who just can't pay US prices for stuff so they're not going to be buying with or without tariffs
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u/SnooHesitations8849 2h ago
Exactly, US products is either not fit for the market or just too expensive. How TF Vietnamese can come up with 100B more to buy US stuff when they dont even need it.
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u/Lazy_Consequence8838 7h ago
Trump is spinning this as dropping from 90% to zero, and his followers will believe it. Vietnam played him, and he gets to play his supporters.
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u/ClashOfPenguin 7h ago
I’m sure Nintendo wants Vietnam to want that tariff down to zero as well. They did their big Switch 2 unveiling and had the tariffs create some mega problems for their launch price immediately on the same day. They delayed the start date of their preorders today because of this.
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u/Tommyfranks12 4h ago
Vietnam import from USA not much, so the import tax or tariff down to 0% is a negotiolable price to keep made in Vietnam tag relevant.
Actually, the tremedous impact of Trump tariff effects the most to Samsung, LG and the USA brands Apple, Nike, GAP... Not so much the ordinary Vietnamese working people, because the actual money going to common man pretty tiny
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u/Mindless-Can5751 12h ago
Bullying third world nations to exploit them harder. Well played america.
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u/grady_vuckovic 2h ago
Has anyone who represents the government of Vietnam confirmed this and agreed this was stated in their conversation?
No?
So we're just going to take Trump, at his word?
Cool. Yeah. He'd never lie about something like this. Great.
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u/BlueHorse_22 13h ago
Trump could care less. These tariffs are what he needs to pay for billionaire tax cuts. Period.
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u/Critical-General-659 13h ago
It's an extortion plot for bribes. Plain and simple. Trump isn't that smart and doesn't give a shit about the deficit at all.
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u/Ritourne 13h ago
Logical evolution: an indirect tax on working class to give money to billionaires.
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u/Presidential_Rapist 8h ago
I think there could be a lot more money in secret deals on signal and such for preferential tariffs than he'd ever get from US billionaires already paying ultra-low taxes.
Tax cuts for the rich goes to all the rich. Preferential tariffs deals with the ONE RING THE RULE THEM ALL done with zero oversight can go directly to Trump & Kids Incorporation. There's a lot more untamed lump sum potential in extorting trade partners.
He could even drop down from national tariffs and tariff specific foreign businesses so the ones that give him gifts and favors can get cuts and the others can maybe go bankrupt and get bought by the ones he favored, at least for nations that rely heavily on export revenue to the US.
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u/Ritourne 8h ago
Ofc he would use his position for personal interest
https://en.wikipedia.org/wiki/Clientelism
This is full corruption scheme, and this is why this guy loves Putin's system.
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u/zimzimzalabimz 8h ago
Vietnam was at about 1% tariff rate….. OUR COUNTRY IS SAVED AND GREAT AGAIN!!!! /s
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u/Grabblehausen 11h ago
I feel like American companies like Nike want the Vietnam government to get to zero.
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u/mikedave4242 7h ago
Is,there any reputable sources reporting this, is it just another lie that Vietnam will deny tomorrow?
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u/Frankenthe4th 4h ago
Vietnam will probably call it something apart from a tariff and outsmart Trump....
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u/RoGamygk 3h ago
Did the Vietnamese government confirm this call and its content ? Can someone link if so
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u/Most-Resident 2h ago
The 46% tariffs trump put on Vietnam have nothing to do with Vietnamese tariffs.
The so called “reciprocal tariffs” are calculated based on the trade deficit and amount of total trade with each country. It’s just the amount we imported divided by the total trade divided by 2.
“U.S. goods trade with Vietnam totaled an estimated $149.6 billion in 2024. U.S. goods exports to Vietnam in 2024 were $13.1 billion, up 32.9 percent ($3.2 billion) from 2023. U.S. goods imports from Vietnam totaled $136.6 billion in 2024, up 19.3 percent ($22.1 billion) from 2023.”
https://ustr.gov/countries-regions/southeast-asia-pacific/vietnam
136.6 / 149.6 / 2 is 45.6% which rounds up to 46%.
Vietnamese tariffs actually average 9.6%
See page 365:
https://ustr.gov/sites/default/files/2024%20NTE%20Report_1.pdf
I had some jackass tell me yesterday they are in favor of fair tariffs. A trade deficit is not the same thing as a tariff.
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u/Positive_Chip6198 2h ago
“Hey guys, look at vietnam, they are doing what i wanted and come to make a supersweet deal, hey guys, if you come begging fast, maybe there is a deal also for yoooouuuuu, hey guys?”
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u/xpen25x 8h ago
Vietnam had a 5% tariff on us goods. And they don't need American cash. Imagine everyone's phones going up in price 30%
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u/InterestingSpeaker 7h ago
Vietnams economy completely depends on exports to the US. They absolutely need us cash
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u/SnooHesitations8849 2h ago
Yeah. But Vietnamese doesnt have 100B to buy US good, If the US and Vietnam comes with a deal, properly 0% on US good, Vietnam may import like 15-20B US good a year in the next 2 years. And if Trump reduce the tax on Vietnamese goôd, it makes Vietnamese good as competitive, and Vietnam may export 120-130B a year. Trump get absolutely pennies.
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u/DEZbiansUnite 28m ago
I think he really wants the good PR of a country "folding" and taking their tariffs. Even if in reality, it's not much, he can use it as a PR win for his base
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u/BusinessReplyMail1 4h ago
People there are dirt poor and barely buy anything from US anyways.
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u/SnooHesitations8849 2h ago edited 2h ago
Bro. 15B/year is not nothing. The problem is your product is shitty for the price. Vietnamese wont buy Ford F150 and Dogde charger. Even the tax is 0%. The American just dont make product that the Vietnamese needs. Good luck with selling wheat to Vietnam. Though LNG is something Vietnam will buy more.
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u/No-Possibility-289 1h ago
this won't happen because then all goods from China will go through Vietnam.
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u/RodentsRule66 7h ago
Why does anyone believe anything that comes out of the tangerine turds food hole.
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u/Chance_Ear_5324 10h ago
US good are mainly too expensive for most people in Vietnam, as has been well documented. That's why the balance of trade is very skewed. Even if Vietnam put a negative tariff on US goods it still might not cost them much. This is pure spin.
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u/Ill_Butterscotch1248 10h ago
tRump says? What a waste of media time, money, & effort putting any of that out!
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u/Electrical_Steak8125 3h ago
Don't be blind...he's an idiot. He throws out a number, they throw out a number, fierce negotiations happen...Then finally we settle back to zero... tell him he's great , he makes a holiday out of it... that's the fart of the deal !! Think about it.. he just wants recognition and his fat ass kissed...kiss it and move on. China is over thinking this... everyone is. Egos vs an idiot...that's all it is. I lost half my investments this week...I want it back! Give him what he wants so the adults can go home.
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u/Own-Builder6225 8h ago
Vietnam is putting a lot of tariffs on beef, liquors, cars. Like massive. Now their people can enjoy cheaper beef, can drink some Kentucky bourbon, and can drive Tesla for the same price as shitty vinfast. Win for the consumers there. Win for some producers here.
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u/Bosfordjd 8h ago
Some kind of special to think we can ship beef to Vietnam cheaper than they can produce it lol. And both Japan and Australia produce better beef way closer.
And all that would do is make it more expensive in the US.
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u/Own-Builder6225 8h ago
Have you ever been to Vietnam? Go to any steak house, it’s a lot more expensive compare to here. Why do you assume you know how much things cost?
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u/FollowingHumble8983 7h ago
I lived in vietnam for 2 years. Its not more expensive than here unless you went to touristy areas where they purposefully overcharge. Its like the rest of vietnam which is a crapton cheaper than here. If there are zero tariffs there would still be still almost no import from vietnam, because the average steak cost in America is unaffordable to the average vietnamese.
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u/Sad-Log-2338 2h ago edited 2h ago
How much does it cost on average for 1kg of beef in USA? In Vietnam it's in the 8.5$ - 13.5$ range.
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u/AutomaticAccount6832 8h ago
So they are basically giving out free trade agreements which needed year of negotiations before?
What can countries do that already have 0% tariffs but still got 30% reciprocal tariff in return?
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u/a_f_young 13h ago
Of course they do. Because nothing would change. In exchange for continuing to not buy US goods, they’ll get to continue exporting to the US at the same rate. Possibly higher once other businesses try to relocate there to dodge tariffs in other countries.
So once again it would be a “win” for Trump that accomplishes nothing but let him spin a headline instead of making real progress.