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Dear AmCham,

Last week, Vietnam and the United States reached a pivotal trade agreement, with the US setting a 20% tariff on Vietnamese exports and imposing a 40% tariff on goods transshipped through Vietnam to address tariff evasion concerns. In return, Vietnam agreed to eliminate all tariffs on U.S. goods, granting the U.S. total, duty-free access to its markets for the first time.

Yesterday, the Trump Administration sent formal letters to leaders of 14 countries—including several in Southeast Asia—announcing steep new tariffs ranging from 25% to 40%, set to take effect on August 1, unless new trade agreements are reached. 

At this point, we are still waiting to understand how transshipments are defined and how those rates will be implemented. As soon as we receive more information, we will pass it along to you, our Members and friends. 

Meanwhile, Vietnam’s economy continues its strong momentum, with GDP growing 7.52% in the first half of 2025—the highest in 15 years. Foreign direct investment surged past US$21 billion, buoyed by policy reforms, streamlined procedures, and investor incentives. Export performance remains a key growth driver, supported by positive business sentiment among foreign-invested firms—81% of whom anticipate stable or improved conditions in Q3 2025, according to the General Statistics Office.

I would like to inform you that our Legal & VBF Liaison Committee Meeting has scheduled its monthly meeting virtually on Wednesday, July 9, from 5:00 PM to 6:00 PM. We hope you can join us—please register here.

We’re here for you! Please let us know if we at AmCham can help your business in any way, or if you would like to become more involved in our committees. We’d love to have you!

Yours sincerely,



Travis Mitchell

Executive Director

We would like to draw your attention to two recently released legislative drafts currently open for public consultation:

• Draft E-Commerce Law 

Issued by the Ministry of Industry and Trade

Deadline for comments: COB July 25, 2025

• Draft Law Amending the Cybersecurity Law 

Issued by the Ministry of Public Security

Deadline for comments: COB July 12, 2025

Members are encouraged to bring forward any advocacy needs or related questions to the relevant Committees, or by email to advocacyaction@amchamvietnam.com.

Similarly, we invite members experiencing instances of administrative delays and challenges to share details via email to communications@amchamvietnam.com. We are compiling this information on behalf of our members.

Members are welcome to join, in-person or virtually:

• Legal & VBF Liaison Committee Meeting, July 9, 2025 – 5:00 pm - 6:00 pm
• Capital Markets and Financial Services Committee (CMFSC) Meeting, July 14, 2025 – 4:00 pm - 5:00 pm
• Environment, Social and Governance (ESG) Committee Meeting, July 17, 2025 – 4:00 pm - 5:30 pm
• Manufacturing Committee Meeting, July 18, 2025 – 9:00 am - 10:00 am
• Tax & Customs Committee Meeting, July 24, 2025 – 5:00 pm - 6:00 pm

Make the Most of Your AmCham Membership!

AmCham members are encouraged to take full advantage of the exclusive discounts and special offers available through the AmCham Membership Discount Program. Simply present your AmCham Membership Card to enjoy valuable deals from our trusted Discount Partners. You can view the complete list of offers here.

Interested in Becoming a Discount Partner?

We welcome companies looking to join the program and promote their products or services to a dynamic network of over 2,000 business professionals representing more than 550 corporate members. It’s a great opportunity to boost visibility and attract new customers.

To become a Discount Partner, please complete this Form or contact us at amcham.membership@amchamvietnam.com for more details.

[The Investor] FDI firms most optimistic about Q3 business outlook in Vietnam: survey. Up to 81% of foreign-invested enterprises in Vietnam forecast improved or stable business conditions in Q3/2025 as compared to Q2, according to a survey by the General Statistics Office (GSO) on business trends among manufacturing and processing companies.

[VnEconomy] [Interactive]: Economic overview - June 2025. With a strong determination to fully unlock all available resources for economic development, coupled with the implementation of major institutional reforms within the Government apparatus, Vietnam's economy recorded several remarkable achievements in the first half of 2025.

[Vietnam Briefing] Vietnam-US Trade Deal 2025: Summary, Impacts, and Strategic Responses. On July 2, 2025, the United States and Vietnam reached an important trade agreement that brings significant changes to their economic relationship. As manufacturers in Vietnam prepare for these shifts, they face both challenges and opportunities that will impact their operations and market strategies. This article examines the implications of the deal, the concerns expressed by the Vietnamese business community, and strategic responses to navigate the evolving trade landscape.

[Asia Nikkei] Vietnam's growth quickens in second quarter on strong exports. Vietnam's economy grew at a faster pace in the second quarter of this year led by strong exports, in an encouraging sign just days after U.S. President Donald Trump said he would place lower-than-threatened 20% tariffs on many Vietnamese products.

[Vietnam Investment Review] Vietnam’s economy on track for record first-half growth. At the first government's monthly review meeting held since the recent administrative merger, Minister of Finance Nguyen Van Thang forecast Vietnam’s economy could see its strongest first-half growth since 2008, with GDP estimated to rise by 7.3 per cent.

[VOV.vn] Investment reforms drive surge in FDI inflows to Vietnam. Vietnam’s foreign direct investment (FDI) reached more than US$21 billion in the first half of 2025, driven by streamlined investment procedures, special incentives, and improved investor support mechanisms.

[Reuters] Vietnam Q2 GDP growth quickens on strong exports, US trade deal brightens outlook. Vietnam's economy grew at a faster pace in the second quarter of this year led by strong exports, in an encouraging sign just days after U.S. President Donald Trump said he would place lower-than-threatened 20% tariffs on many Vietnamese products.

[VOV.vn] Highest first-half GDP growth in 15 years signals broad recovery. Vietnam has recorded its strongest first-half gross domestic product (GDP) growth in 15 years, fueled by manufacturing gains, resilient domestic demand, and macroeconomic stability.

[Việt Nam News] Việt Nam remains attractive to foreign investors despite tariff headwinds. As long as the tariffs imposed by the US are no more than 10 per cent higher than those applied to regional competitors, Việt Nam’s pre-existing advantages, including workforce quality, competitive costs, favourable demographics, and strategic location, will continue to drive investor interest, VinaCapital said.

[The Investor] Vietnam GDP grows 7.52% in H1, 15-year record high. Vietnam's economic growth rate reached 7.52% in the first six months of the year, a record high in the period 2011-2025, the General Statistics Office reported on Saturday.

[Vietnam Briefing] US Tariffs on Vietnamese Exports: Analyzing the New Framework. In a significant move, US President Donald Trump has announced new tariffs on Vietnamese exports, imposing a 20 percent duty along with a 40 percent levy on goods deemed to be transshipped. This development could reshape trade dynamics between the two nations.

[Reuters] For retailers, US-Vietnam trade deal leaves questions. A trade deal announced by the U.S. and Vietnam creates new question marks for sportswear and clothing retailers like Nike and Adidas that source shoes and clothes from factories in the Southeast Asian country, industry experts said on Thursday.

[CNBC] What the U.S.-Vietnam trade deal tells us about the future of tariffs. Global attention turned to Vietnam on Thursday, after U.S. President Donald Trump announced a trade deal with Hanoi just days before Washington’s reciprocal tariffs come back in full force.

[The Investor] US agreement on 20% tariff for goods imported from Vietnam 'a success': expert. Reaching agreement with the U.S. on 20% tariff for goods imported from Vietnam and even 40% for transshipping is a success for the Southeast Asian country, said Ho Quoc Tuan, a senior lecturer of accounting & finance at University of Bristol, the UK.

[Vietnam Investment Review] Coca-Cola Beverages Vietnam to support sustainable rice farming in Tay Ninh. Coca-Cola Beverages Vietnam, in partnership with agri-tech company Rize Vietnam and global innovation studio Ben & Archie, has launched a new sustainable rice farming project in Ben Luc commune in Tay Ninh province.

The American Chamber of Commerce in Vietnam

in Ho Chi Minh City

New World Hotel Suite 323

76 Le Lai Street, District 1

Ho Chi Minh City, Vietnam

Phone: +84 28 3824 3562