At a garment factory in Ho Chi Minh City that exports T-shirts and underwear to the United States, staff were alarmed by "shocking" trade tariffs imposed on Vietnam that could severely impact their business.
A manufacturing powerhouse that counted the United States as its biggest market last year, the Southeast Asian nation was hammered with a thumping 46 percent tariff in President Donald Trump's global trade blitz.
Despite widespread fears it could be a key target over its huge trade surplus with Washington -- the third-largest after China and Mexico -- the size of the levies came as a bombshell for businesses and factory workers on Thursday.
"It's truly shocking," said Tran Nhu Tung, board chair at Thanh Cong, a factory in Ho Chi Minh City that makes clothes for DKNY and Walmart, among others.
A manufacturing powerhouse that counted the United States as its biggest market last year, the Southeast Asian nation was hammered with a thumping 46 percent tariff in President Donald Trump's global trade blitz.
Despite widespread fears it could be a key target over its huge trade surplus with Washington -- the third-largest after China and Mexico -- the size of the levies came as a bombshell for businesses and factory workers on Thursday.
"It's truly shocking," said Tran Nhu Tung, board chair at Thanh Cong, a factory in Ho Chi Minh City that makes clothes for DKNY and Walmart, among others.
17 hours ago
