Vietnam Cuts Import Tariffs in Response to Trump’s Push

Vietnam has announced import tariff cuts ahead of the entry into effect of President Donald Trump’s tariffs aimed at fixing the trade deficit the United States has with many of its trade partners globally. According to a statement by the Vietnamese government, imports that will see reduced import levies include liquefied natural gas, cars, ethanol, wood products, and various foodstuffs. For LNG, the import tariff rate would be reduced from 5% to 2%, while the tariff on imported cars would be slashed from 64% to 32%. Ethanol tariffs would…