Top apparel exporter Vietnam faces higher US tariffs than peers
XLY•Major brands with manufacturing in Vietnam
Among top investors in Vietnam are Nike NKE.N, Gap GAP.N, Ralph Lauren RL.N and Under Armour UAA.N. The companies did not respond immediately to requests for comment.
The new tariffs of 10% and 12.5%, which take effect on Friday, target 60 trading partners over allegations of lax enforcement of forced labour bans.
Vietnam, which is still negotiating a trade deal with the U.S. under the Trump administration, faces a 12.5% tariff rate, as does China. Competitors Bangladesh, Cambodia, Indonesia and Malaysia, which have done trade deals, are subject to 10% duties.
Vietnam faces higher U.S. tariffs than peers
HANOI, July 24 (Reuters) - Vietnam faces higher U.S. tariffs than peers and risks a further erosion of competitiveness in the clothing sector, as the largest exporter of apparel to the U.S. is excluded from a mechanism that could cut U.S. duties on some textile imports.
