The US will impose a 46% duty on imports from Vietnam, affecting companies in the apparel, furniture, and toy industries. This move may lead to price hikes for consumers, as companies like Nike and Adidas rely heavily on Vietnam for production.
Imports from Vietnam have grown 19% in 2024, with many companies diversifying their production to avoid China-US trade tensions. The tariffs will take effect on April 9, and companies are evaluating their impact and considering alternatives to mitigate cost increases.