Vietnam’s goods exports to the United States accounted for 30% of its GDP in 2024, the highest share among Washington’s top trade partners, a Reuters review of public data shows. This exposes the Southeast Asian nation to potential reciprocal tariffs.

Vietnam’s export dependence on the US grew after foreign multinationals, including Apple, Intel, and Nike, shifted production from China amid the 2018 US-China trade war.

Major manufacturers like Samsung and Foxconn now operate extensive facilities in the country, making it a key node in global supply chains.

Last year, Vietnam exported $142.4 billion in goods to the US, becoming America’s sixth-largest supplier. According to customs data, exports to the US represented 29% of Vietnam’s total shipments, surpassing Mexico’s 27.6% exposure despite Mexico exporting three times more.

Vietnam’s vulnerability stems from its soaring trade surplus with the US, which ranks fourth after China, the EU, and Mexico. Analysts warn that the surplus, combined with higher tariffs, VAT, non-trade barriers, and Vietnam’s presence on Washington’s currency watchlist, heightens the risk of punitive measures.

US President Donald Trump has ordered a review of global reciprocal tariffs, with recommendations due by April. Vietnam’s heavy reliance on US demand and limited American imports could make it a target.