Businesses from the United States and Vietnam are urging the Trump administration to postpone the 46% tariff on Vietnamese goods, as they believe it will negatively impact them and the bilateral trade relationship. The Vietnam Chamber of Commerce and Industry and the American Chamber of Commerce in Hanoi expressed their worries to Commerce Secretary Howard Lutnick in a letter dated Saturday, deeming the tariff, set to become effective Wednesday, as excessively high.

They emphasized in a joint statement that reducing tariffs on goods entering Vietnam and those reaching American consumers would be more beneficial for U.S. businesses, the economy, and consumers, while higher tariffs would not serve the same purpose.

Vietnam, a significant manufacturing hub for numerous Western companies in the region, recorded a trade surplus of more than $123 billion with the U.S., its primary export market, last year. Following a productive phone call between President Donald Trump and Vietnamese leader To Lam, discussions to eliminate tariffs were scheduled.

Even before the announcement of the global tariffs by Trump, Vietnam had already reduced multiple duties as part of efforts to meet U.S. demands, which included commitments to purchase more American products like aircraft and agricultural goods.

AmCham and VCCI highlighted the need for a swift and equitable agreement that would offer clarity for businesses and help address the trade imbalance between the two nations in a manner that benefits both parties.