Vietnamese businesses divided over new US tariff framework deal

The United States and Vietnam have reached a framework agreement on "reciprocal tariffs," a move that has drawn mixed reactions from Vietnam's business community.

Le Van Duong, a Vietnamese lawyer specializing in international trade and mergers, noted that large Vietnamese enterprises generally welcomed the deal.

"Most believe that with a clear tariff roadmap, categorized by product type and backed by technical standards, long-term production will become more stable, allowing companies to focus on quality improvements," he said.

However, smaller businesses, particularly the garment industry, voiced concern.

Hoang Anh Quy, a garment business owner, expressed disappointment over the general tariff rate of 20 percent, which he said is 5 to 10 percentage points higher than expected. He also questioned the steep 40 percent tariff on transshipped goods, which could be applied to products using raw materials imported from countries like China.

"Vietnamese firms are confused. We're waiting to understand what will count as Vietnamese origin and what will be treated as transshipment," he said.

Nguyen Thuong Lang, associate professor at the National Economics University in Hanoi, noted that while the U.S.-Vietnam trade agreement will inevitably impact China-Vietnam trade, it also presents an opportunity for China and ASEAN to advance regional economic integration.

He emphasized that China's market is four times larger than that of the U.S. If Vietnam and other ASEAN countries can deepen their integration into the Chinese market, they could reduce their economic dependence on the U.S.

"This will forge a new business network and ecosystem. We need to collaborate to minimize risks and build a community with a shared future. In this endeavor, I believe China's role is particularly crucial," Lang said.

U.S. President Donald Trump announced on his social media platform Truth Social on July 2 that he has just made a trade deal with Vietnam after speaking with To Lam, general secretary of the Communist Party of Vietnam Central Committee.

"It will be a Great Deal of Cooperation between our two Countries. The Terms are that Vietnam will pay the United States a 20 percent Tariff on any and all goods sent into our Territory, and a 40 percent Tariff on any Transshipping," he wrote.

Previously, Trump threatened to impose a 46 percent import tariff on Vietnam.

Vietnamese businesses divided over new US tariff framework deal

Tanzania and China have committed to synergizing the implementation of development strategies to boost common development, according to a joint press communique released on Saturday.

The communique was issued after talks between the foreign ministers of Tanzania and China in Dar es Salaam. Wang Yi, a member of the Political Bureau of the Communist Party of China Central Committee and foreign minister, visited Tanzania on Friday and Saturday, during which he met with his counterpart, Mahmoud Thabit Kombo.

The two ministers spoke highly of the traditional friendship between China and Tanzania, which is built on trust and mutual respect, said the communique.

Noting with satisfaction the fruitful outcomes of China-Tanzania relations and friendly cooperation over the past six decades, they are committed to the practical implementation of the consensus reached by the two heads of state to further elevate the comprehensive strategic cooperative partnership to new heights.

China reiterated its full confidence in Tanzania's leadership and institutions to manage internal affairs independently, the communique said, while Tanzania reaffirmed its unwavering commitment to supporting the one-China principle and reiterated its consistent position of recognizing that there is but one China in the world and respecting China's national unity and territorial integrity, underscoring that any form of secession is unacceptable.

The two countries have committed to synergizing the implementation of development strategies, agreed to further expand two-way investment and trade, and reaffirmed their commitment to further fostering a fair and enabling business environment on both sides.

The two sides agreed to jointly host activities related to the 2026 China-Africa Year of People-to-People Exchanges and to expand cooperation in areas such as culture, tourism, education, public health, sports, youths, think tanks and media, so as to solidify public support for China-Tanzania friendship, the communique said.

Stressing that the two countries welcomed the smooth commencement of the TAZARA Railway revitalization project and expressed their readiness to support its implementation, the communique said that the two sides are exploring the possibility of organizing a high-level TAZARA Railway Prosperity Belt meeting in the near future.

China, Tanzania pledge to align development strategies