Currently, the Vietnamese delegation is in the US to negotiate a peaceful resolution to the tax issue, but so far, the problem has not been resolved.
So if by August 12 we have not resolved that issue, we will be subjected to tariffs, and even if we do resolve it, we will still face a tariff level that cannot be zero.
Vietnam is one of the countries that replaces China to export to the US, so there is no way the US will let us go easily, it's not that simple.
If we want to solve that problem, we need time to fix the errors. So we see a vision that definitely after August 12, our Vietnam will have to face tariffs.
But with tariffs, it becomes harder for us to acquire foreign currencies, making it more difficult to export to the US to earn dollars, which will lead to a shortage of dollars domestically.
Lack of dollars will affect our foreign exchange reserves, which are already low, and coincidentally now taxes are hitting many things (counterfeit goods, smuggled goods, etc.). Most counterfeit and smuggled goods come from those Chinese sellers.
So imposing taxes not only collects budget revenue but is also one aspect.
The second thing is that we can solve the social issue of low-quality goods that affect people's health; additionally, we can reduce the import of Chinese goods to balance things out.
> 1 hit 3-4 times right away.
Thus, it will be very tiring ahead, mostly due to our citizens trading and buying cheap, counterfeit, and smuggled Chinese goods. So this time, the crackdown will affect the economy, and it's no joke.
Taxes are beginning to be imposed, and counterfeit and smuggled goods are now being tightened; but the issue is that previously our people were doing business in these areas too much, so the economy will definitely be affected, and it needs some time to absorb and get used to that.
Therefore, there are many issues to be careful about in the future, because when people find it harder to earn money, many bad habits and frauds will emerge.
