 Vietnams trade surplus with U.S. keeps rising |
Source |
American Shipper |
Post Date |
05/14/2025 |
|
?Trump wants to cut Vietnam trade surplus, threatened 46% duties
?
?SSA Marine port operator says shipments to U.S. at record high
?
?Imports from China surge, despite crackdown on some China trade
?
?
?
HANOI, May 7(Reuters) - Vietnams imports from China and exports to the United States bothreached a post-pandemic record in April, amid talks with Washington to reduceHanois trade surplus and a crackdown on Chinese goods being shipped to theU.S. via its territory.
TheSoutheast Asian nation faces the risk of 46% duties on its exports to the U.S.if the White House confirms this rate at the of a global tariff pause inJuly. This could undermine Vietnams growth model and hit multinationalsexporting from the country, including Samsung and Nike.
Hanoi hasmade multiple offers to the Trump administrationto avoid high levies, including clamping down on illegal transshipment ofChinese goods to the U.S. via Vietnam. Goods benefit from lower tariffs iflabelled as Made in Vietnam.
However,trade trs that have attracted U.S. criticism are accelerating, potentiallycomplicating Vietnams efforts to extract U.S. concessions in ongoing trade talks.
The Trumpadministration wants to reduce trade imbalances, but Vietnams surplus with theUnited States - already one of the highest globally - expanded bynearly 25% in the four months to April year on year, according to Vietnamsstatistics agency.
In Marchalone, it exceeded $13.5 billion, the highest monthly figure ever, U.S. datashowed.
Manufacturersin Vietnam are ramping up exports to the United States before a possibletariffs hike, multiple industry utives said.
In April,shipments to the U.S. exceeded $12 billion, 34% higher than a year earlier, andthe largest value recorded after the COVID-19 pandemic, Vietnams customs datashowed.
VietnamsCai Mep deep-sea port, which handles most of the countrys sea-borne exports tothe United States, is experiencing a surge in shipments to the U.S., said SorenPedersen, vice president at SSA Marine, which operates a port in Cai Mep and isone of the worlds largest port operators.
He toldReuters Cai Mep, which hosts all major shipping companies, including Maersk,MSC and COSCO, has 26 container ships booked for weekly departures to the U.S.in May, "a record high" from an average of 20-22.
CHINA IMPORTS
At the sametime, Vietnam is ramping up imports from China, which also reached apost-pandemic record in April, exceeding $15 billion, according to customsdata.
Vietnamsexports to the U.S. in recent years have been fuelled by imports from China,with inflows from Beijing closely matching the value and swings of exports toWashington.
Vietnams exports to the United States haveincreased in parallel with its imports from China in recent years
Vietnamsimports of Chinese goods, often components or raw materials used in Vietnamesefactories, grew nearly 31% in April from a year earlier. Industrial productionrose 8.9% in the same period.
White Houseofficials have accused Vietnam of being a mere waypoint for goods made in Chinaand shipped to the United States, with no or insufficient value added in thecountry to justify Made in Vietnam labels.
In response,Hanoi started a crackdown on illegal transshipment inApril, increasing controls on imported goods and the issuance of certificatesabout products origins.
|
|
|
|
