Hanoi, 11 April 2025 – EuroCham Vietnam convened a high-level Special Briefing on U.S. Tariffs to address growing concerns following the United States’ announcement of reciprocal duties on Vietnamese exports. The session brought together government officials, trade experts, and business leaders to assess the impact of these measures and to explore paths for mitigation and long-term resilience.
The briefing featured an outstanding panel with H.E. Mr. Julien Guerrier – EU Ambassador to Vietnam, Mr. Bruno Jaspaert – Chairman, EuroCham Vietnam, Mr. Hien Nguyen Luong – Partner, PwC Vietnam, and Mr. Tung Nguyen – Senior Associate, BakerHostetler. Moderating the session was Ms. Tri Mai Hoang – EuroCham Board Member. Throughout the briefing, attendees gained insights into the implications of the proposed 46% tariff and discussed how businesses—both European and Vietnamese—can prepare during the critical 90-day consultation window.
European Businesses Express Concern but Remain Resilient
Opening the session, EuroCham Chairman Bruno Jaspaert emphasised the importance of data-driven decision-making in times of uncertainty. A recent EuroCham survey revealed that 25% of European businesses operating in Vietnam see their business at risk, with 20% expecting revenue losses. Despite these challenges, most companies are choosing to reassess costs and operations rather than downsizing or exiting the market.
EU Reaffirms Commitment to Rules-Based Trade
The EU Ambassador to Vietnam, H.E. Mr. Julien Guerrier, reaffirmed the EU’s commitment to multilateralism and fair-trade practices. He highlighted the EU’s efforts to find constructive solutions with the U.S. while expanding trade ties with other reliable partners across Asia and Latin America. The EU remains a strong advocate for rules-based trade and is prepared to support Vietnam through this turbulent period.
Domestic Businesses Urged to Reassess Strategy
From a domestic perspective, Mr. Nguyen Luong Hien from PwC Vietnam emphasised that both export-oriented and local businesses will feel the impact of the tariffs. Vietnamese firms are being encouraged to diversify their markets, evaluate export volumes, and adapt their strategies to mitigate disruptions. Infrastructure improvements and investment in renewable energy and digital transformation were noted as key areas for long-term competitiveness.
Legal Perspective on Tariffs and Global Trade Law
On the legal front, Mr. Tung Nguyen from BakerHostetler shared insights on potential violations of international trade law and WTO principles by the U.S’s new reciprocal tariffs policy. The presentation noted that current U.S. actions could signal a shift toward a more unilateral trade strategy, increasing the complexity of global compliance for companies doing business with the U.S.
Turning Challenge into Opportunity
Looking ahead, panelists agreed that this situation, while challenging, presents an opportunity for Vietnam to accelerate reforms, strengthen domestic industries, and deepen engagement with trusted partners like the EU. Continued support from the EU, particularly through instruments like the EVFTA, can help Vietnam improve competitiveness, streamline administrative procedures, and promote sustainable economic growth.
EuroCham’s Commitment to Supporting Members
EuroCham reaffirmed its commitment to supporting members through timely updates, policy advocacy, and expert briefings. By maintaining transparency and fostering constructive dialogue, the chamber aims to help its members navigate uncertainty and continue to thrive in Vietnam’s evolving trade landscape.
