U.S. Tariffs Trigger Looming Job Cuts in Vietnam

A survey by the American Chamber of Commerce in Vietnam reveals most U.S. manufacturers in Vietnam anticipate layoffs if additional U.S. tariffs are imposed. The survey indicates that these tariffs could heavily impact supply chains and lead to a reevaluation of operations away from the U.S. market.

The American Chamber of Commerce in Vietnam warns that tariffs proposed by the Trump administration could lead to significant layoffs among U.S. manufacturers in the country. This comes as manufacturers account for over 60% of Vietnam's foreign investment, with big names like Intel and Nike represented in the chamber.

Concerns mount as AmCham's survey indicates that 81% of members worry about potential tariff impacts, skyrocketing to 92% among manufacturers. Businesses foresee increased costs disrupting supply chains, prompting 41% to consider shifting away from the U.S. market.

The ongoing U.S. tariffs on China, Mexico, and Canada have already unnerved investors. With Vietnam’s substantial trade surplus with the U.S., new duties could target key sectors like semiconductors, further unsettling the manufacturing landscape.

(With inputs from agencies.)