Home / Business and Economy / US Weighs Vietnam Tariffs: Tech Giants Divided
US Weighs Vietnam Tariffs: Tech Giants Divided
2 Nov
Summary
- US sets Nov 29 deadline for trade probe on Vietnam's IP violations.
- Tesla and Samsung oppose new US tariffs, citing supply chain needs.
- US steel, solar, and seafood groups urge tariffs on Vietnam.
The United States is considering imposing new tariffs on Vietnamese goods by a November 29 deadline, stemming from a trade probe initiated in May over alleged intellectual property violations. Vietnam has been designated a "priority foreign country" by Washington, the first in 13 years to receive this designation due to persistent concerns about IP protection and enforcement.
Major corporations like electric car manufacturer Tesla and Samsung's US unit have urged the US Trade Representative to reconsider, highlighting their reliance on Vietnamese manufacturing for components and finished products. Retail groups and trade associations also voiced opposition, concerned about their extensive operations in Vietnam.
Conversely, industry groups representing US producers of steel, seafood, plywood, solar panels, and wood products have accused Vietnam of unfair practices and are advocating for new tariffs. Copyright holders, including software, film, and music industry groups, are pushing for stronger commitments from Vietnam to combat widespread piracy.
Vietnam's exports to the US have surged significantly, making it the US's largest goods surplus trading partner ahead of China and Mexico. The US previously imposed a 12.5% tariff on Vietnamese goods in July due to concerns over forced labor imports.
