Ho Chi Minh City, Vietnam – Kieu Quoc Thanh, the CEO of cashew export business SVC Group, says that everyone in his industry has been “feeling crazy” for the past two weeks.Since United States President Donald Trump announced his since-paused “reciprocal” tariffs on April 2, Thanh has witnessed mass confusion among Vietnamese exporters.
Many businesses reliant on the US market are checking online hourly for updates on the tariffs, Thanh says, while he has a shipping container full of cashews bound for the US market currently sitting in limbo.
Since Trump announced a 90-day pause on Vietnam’s 46 percent tariff and duties on dozens of other countries, the US has imposed a baseline 10 percent levy on imports from all countries, including Vietnam.
But Thanh’s customers in the US and customs officers alike are uncertain how much to tax his products, he says.
“No one knows what’s happening,” Thanh told Al Jazeera at his Ho Chi Minh City office last week.
A man stands outside Phuc Long Port in Ho Chi Minh City, Vietnam, on April 10, 2025 [Govi Snell/Al Jazeera]
While businesses such as Thanh’s navigate the disruption, Hanoi and Washington are in discussions about a trade deal after agreeing to begin negotiations on April 10. Advertisement
For Vietnam, one of the world’s most export-reliant economies, the stakes could scarcely be higher.
The US is the Southeast Asian country’s biggest export market, with shipments to it alone last y …
