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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Vietnam seeks US tariff delay as Q1 economic growth slows
HANOI, Vietnam — Vietnam has asked for a last-minute delay to colossal tariffs imposed by Washington as government figures showed on Sunday that its economy grew at a slightly slower pace in the first quarter. The Southeast Asian manufacturing powerhouse counted the United States as its biggest export market in the first three months of
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Leaning Left10Leaning Right10Center26Last UpdatedBias Distribution57% Center
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57% Center
L 22%
C 57%
R 22%
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