Vietnam has offered 0% tariffs on U.S. goods in an effort to avoid steep reciprocal tariffs imposed by President Donald Trump, who recently announced a sweeping tariff policy hitting dozens of trade partners. Cambodia also responded, proposing to reduce tariffs to 5% and requesting a delay in the new U.S. levies.
Trump revealed the development Friday after a phone call with Vietnamese leader To Lam, describing the conversation as “very productive” on his Truth Social platform.
“Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their tariffs down to ZERO if they are able to make an agreement with the U.S.,” Trump posted. “I thanked him on behalf of our Country, and said I look forward to a meeting in the near future.”
Lam confirmed the call and Vietnam’s intent to reduce tariffs, adding that the country hopes the U.S. will offer similar terms for Vietnamese imports.
According to a government statement, both leaders agreed to continue negotiations with the goal of signing a bilateral trade agreement soon. Trump also accepted an invitation to visit Vietnam.
Vietnam, a key manufacturing hub for major Western companies, has found itself under pressure after Trump’s announcement of a 46% tariff on Vietnamese imports, set to take effect April 9. The country’s trade surplus with the U.S. exceeded $123 billion last year, making it one of the more heavily affected by the tariff move.
In anticipation of the tariffs, Vietnam had already taken steps to appease Washington by lowering various duties and pledging to purchase more American products, including agricultural goods and aircraft. A Vietnamese delegation is reportedly preparing to visit the U.S. next week to finalize a deal for Boeing planes.
The tariffs had an immediate impact on markets, sending shares of companies like Nike, Adidas, and Puma sharply lower due to their extensive manufacturing operations in Vietnam. However, some stocks began to rebound after Trump’s statement signaled a potential path to resolution.
Meanwhile, Cambodia joined the diplomatic push to avoid U.S. tariffs. In a letter to Trump, Cambodian Prime Minister Hun Manet requested a postponement of the planned 49% tariffs on Cambodian goods, also set to begin April 9.
“Cambodia proposes to negotiate with your honourable administration at the earliest convenient time,” Hun Manet wrote, pledging to reduce tariffs on 19 U.S. product categories from a maximum 35% rate to just 5%.
He emphasized Cambodia’s willingness to engage in constructive talks and instructed his Commerce Minister to coordinate with the U.S. Trade Representative. “We are committed to promoting U.S.-based product imports and strengthening our bilateral trade relationship,” the letter said.
The U.S. reciprocal tariff policy, unveiled Wednesday, targets dozens of countries, including Vietnam and Cambodia, with some of the highest duties yet—46% and 49% respectively.
While Trump has maintained that the tariffs are part of a broader plan to rebalance trade and prioritize American industry, both Southeast Asian nations are now urgently seeking deals to prevent economic fallout.