Vietnam Eyes 8% Growth Despite US Tariffs Impact

Vietnam is demonstrating remarkable economic resilience even as it faces external challenges, including tariffs from its largest export partner, the United States. Prime Minister Pham Minh Chinh emphasized at a recent business conference that the country’s economy is robust enough to absorb shocks from global trade pressures.

Despite the 20% tariff imposed by the U.S. on Vietnamese imports, the government believes an 8% growth target for this year remains achievable. In a bold projection for 2026, officials are aiming for 10% growth, signaling confidence in the country’s economic strategies and export resilience.

Government data shows that while shipments to the U.S. have declined month-on-month since August, Vietnam still maintained a trade surplus of $111 billion with Washington in the first ten months of 2025. This underscores the nation’s strong trade performance and diverse export base beyond a single market.

Analysts note that Vietnam’s economy benefits from its competitive manufacturing sector, growing foreign investment, and strategic trade partnerships across Asia and Europe. This combination has allowed the country to navigate global economic uncertainties more effectively than some of its regional peers.

With steady domestic consumption, expanding industrial output, and proactive fiscal policies, Vietnam is positioning itself to remain a strong player in the global market, even as external headwinds persist.