Vietnam Strengthens Trade Measures Amid U.S. Tariff Threat

Vietnam urges firms to tighten control on goods' origins to avert a 46% U.S. tariff, part of a strategy to diversify material sources and address concerns over mislabeled Chinese imports. The move aligns with Hanoi's efforts to negotiate a favorable trade deal with the United States.

Vietnam's government has instructed businesses to enhance their oversight over the origins of goods and materials to combat fraud, a strategic step to sidestep a potential 46% tariff from the Trump administration. This directive was communicated in a document by the Ministry of Industry and Trade.

The ministry, led by Minister Nguyen Hong Dien, emphasized the need for enterprises to diversify their supply chains to reduce dependency on single sources. This initiative coincides with attempts to clarify goods' origins, following U.S. concerns about Chinese products masquerading under 'Made in Vietnam' labels.

The United States has signaled intentions to impose significant tariffs, prompting Vietnam to fast-track trade agreement negotiations. The country, a vital manufacturing hub heavily reliant on Chinese imports, announced talks with the U.S. after a recent 90-day suspension of global 'reciprocal' tariffs.

(With inputs from agencies.)