According to Mr. Do Ngoc Hung, Commercial Counselor and Head of the Vietnam Trade Office in the United States, on February 9, U.S. President Donald Jump announced an additional 25% import tariff on aluminum and steel products entering the U.S. market. The new tariffs will officially take effect on March 4, 2025.
Vietnam’s Aluminum and Steel Export Overview
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Steel Exports to the U.S. Market
Based on U.S. Customs statistics, in 2024, Vietnam exported approximately USD 983 million worth of steel and steel products to the U.S.—a surge of nearly 159% compared with 2023.
Major Vietnamese steel exports to the U.S. include:
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Galvanized steel (HS 7210.49)
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Aluminum-zinc coated steel (HS 7210.61)
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Plastic-coated steel (HS 7210.70)
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Stainless steel (HS 7219.34)
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Alloy steel (HS 7209.16)
Aluminum Exports to the U.S. Market
For aluminum, the same source reported that in 2024, Vietnam’s aluminum and aluminum product exports reached USD 479 million, up 9.5% from 2023.
Key aluminum export items include:
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Aluminum kitchen cabinets, furniture, and household equipment (HS 7615.10)
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Alloy aluminum (HS 7604.21)
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Aluminum rods and bars (HS 7604.29)
Current Tariffs and Trade Defense Issues
According to the Trade Office, Vietnamese aluminum and steel products are already subject to 10% and 25% tariffs, respectively, under Section 232—a U.S. trade safeguard measure introduced in 2018 and applied to most countries.
In addition, Vietnamese aluminum and steel products are frequently targeted in U.S. trade defense investigations. To date, the U.S. has initiated over 34 cases involving Vietnamese steel—accounting for more than 50% of all U.S. trade remedy cases against Vietnam—and two cases involving aluminum.
Global Supply Chain and Market Impact
Mr. Hung noted that the additional 25% import tariff on aluminum and steel will negatively affect exporting countries. Since 2018, after China lost its dominant position in this market, nations such as Canada, Mexico, the EU, Japan, South Korea, Taiwan (China), and Brazil have become major suppliers to the U.S.
This new tariff may disrupt global supply chains. Steel and aluminum products that can no longer enter the U.S. could be diverted to other markets—including Vietnam—increasing competition domestically. Furthermore, higher tariffs could drive steel companies to refocus on their domestic markets, potentially prompting more protectionist policiesworldwide, similar to what occurred around 2028, which may create new challenges for exporting countries like Vietnam.
Opportunities and Recommendations for Vietnamese Exporters
Despite these challenges, Mr. Hung believes that if the U.S. imposes the 25% tariff across the board, Vietnam still retains significant export potential, as the domestic U.S. production capacity for steel and aluminum cannot yet fully meet internal demand.
However, exporters may face shrinking profit margins. Even so, Vietnamese goods—known for competitive prices and high quality—continue to contribute positively to the U.S. economy, helping to curb inflation and promote bilateral trade growth.
Looking ahead, Vietnamese enterprises are advised to:
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Diversify export markets, particularly targeting countries with existing Free Trade Agreements (FTAs) with Vietnam, to avoid over-reliance on the U.S.
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Strictly comply with U.S. rules of origin and be fully prepared to participate in any U.S. trade defense investigations.
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Monitor policy changes and develop adaptive business strategies to minimize risks and sustain export growth.