Vietnam’s Q2 GDP Grows 7.96% on Strong Exports, U.S. Tariffs Cut to 20%, PM Targets 8.3%-8.5% Growth

Vietnam's economy experienced accelerated growth in the second quarter of 2025, driven primarily by strong export activity. This surge was influenced by foreign buyers rushing to purchase Vietnamese goods ahead of threatened U.S. tariffs, which could have reached up to 46% on sales to the United States. However, U.S. President Donald Trump subsequently announced lower tariffs of 20% on many Vietnamese products, improving the trade outlook. Official data indicated Vietnam's GDP growth for Q2 stood at approximately 7.96% year-on-year. In light of these developments, Vietnam's Prime Minister has set an ambitious target for the country's GDP growth at 8.3% to 8.5% for the full year 2025, reflecting confidence in continued economic expansion supported by export strength and favorable trade conditions with the U.S.