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Vietnam economic growth slows in first quarter as US tariffs loom

  • Vietnam's economic growth slowed to 6.93% in the first quarter of 2025, down from 7.55% in the previous quarter, according to the National Statistics Office.
  • President Donald Trump announced a 46% tariff on Vietnam's exports to the US, which may cause a 10% drop in shipments and cut GDP growth by 0.84 percentage points, the statistics office estimated.
  • Prime Minister Pham Minh Chinh maintained the government's growth target of at least 8% for this year despite economic challenges.
  • Nguyen Thi Mai Hanh warned that the tariffs could lower foreign investments and impact jobs in the manufacturing sector.
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einnews.com broke the news in on Sunday, April 6, 2025.
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