Vietnam PM says US tariffs negatively affect global economy

US President Donald Trump’s “reciprocal” tariffs are negatively affecting the global economy, Vietnamese Prime Minister Pham Minh Chinh said on Monday.  Pham Minh Chinh added Vietnam has made good progress in talks with the Trump administration over the tariffs, he full impact of which has been postponed globally until July.

The tariffs, including a 46% levy on Vietnamese goods, are threatening global supply chains, Chinh told the parliament, adding that the country’s export-reliant economy is facing a “challenging and complicated situation.”

Chinh said Vietnam has made good progress in talks with the Trump administration over the tariffs, the full impact of which has been postponed globally until July.

“We have stayed calm and courageous and taken several appropriate measures,” Chinh said. “Vietnam is among the first countries the US has agreed to hold tariff negotiations with.”