Vietnam's GDP growth hits highest level since 2011
Vietnam announced on Saturday that the GDP growth rate for the first half of 2025 reached 7.52%, the highest level in 14 years. Vietnam has just avoided the strictest tariffs that Trump was about to implement.
The General Statistics Office of Vietnam stated, "In the context of high uncertainty in the global and regional economy, Vietnam has achieved very positive results and is approaching the set goals." Hanoi has set an annual growth target of at least 8.0%.
US President Trump had threatened to impose additional taxes of 46% on Vietnamese products exported to the US, citing Vietnam's trade surplus with the US (12.3 billion dollars), which is second only to China and Mexico.
On Wednesday, Trump announced a deal with Vietnam to impose a 20% additional tax on goods exported from Vietnam to the US, but a 40% tariff on transshipped goods from Vietnam. In exchange, US products will be exempt from tariffs entering the Vietnamese market.
The US is Vietnam's largest export market, with exports reaching 57 billion dollars in the first five months of 2025, especially textiles.
Data from Bloomberg shows that the biggest beneficiaries of the US adjusting its supply chain are Taiwan and Vietnam. In May, Taiwan and Vietnam accounted for nearly 6% of US imports of goods, compared to 3% in 2023.
Original: https://www.toutiao.com/article/1836819057305612/
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