Vietnam Sees 27% Decline in US Shoe Exports Following Trump Tariffs

Customs data released on Monday, October 6, showed that Vietnam's footwear exports to the United States fell 27% in September to $611 million, the steepest decline of any sector after the US government imposed tariffs.

Customs officials reported a sharp monthly decline of 20% in textile exports and a 24.38% decline in phone and component shipments.

Despite these sectoral declines, Vietnam's overall exports to the United States edged down just 1.5% to $13.7 billion in September, cushioned by gains in coffee and machinery exports, the data showed.

This comes a day after Vietnam government announced that its economy grew at an annual rate of 8.22% in the third quarter, which was accelerated from 7.96% growth in the second quarter by the imposition of a 20% tariff on US imports of its goods.

In the first nine months of this year, Vietnam's total trade turnover—which includes both imports and exports—surpassed $680 billion, representing a 17% increase over the same period last year.

According to the government, the nation recorded a trade surplus of $16.8 billion during that time.

Midway through the quarter, on August 7, the Trump administration imposed a 20% US import tariff on most Vietnamese goods. As a result, Sunday's economic release was missing a critical variable: comprehensive trade data.

Last month, Pham Minh Chinh, the prime minister of Vietnam, said the nation expects exports to grow by more than 12% this year.

But according to a report by the United Nations Development Programme, Vietnam was the country in Southeast Asia most negatively impacted, with US duties possibly cutting its exports to the US by as much as a fifth.

Vietnam will keep negotiating trade with the United States, according to the country's government and trade ministry.