Vietnam's export-driven economy has shown unexpected resilience in the face of new tariffs imposed by the United States. Despite concerns that the levies would disrupt trade, Vietnamese exports to the US surged by 28 percent last year, with the country's trade surplus swelling to $134 billion. High-end furniture manufacturers, electronics producers, and agricultural exporters have largely weathered the tariffs, with some sectors even experiencing growth in US orders.

While lower-margin manufacturers have faced challenges, including layoffs and reduced shipments, major electronics and consumer goods companies have benefited from increased demand. Analysts suggest that part of the export surge may be due to final-stage assembly and re-exporting goods produced elsewhere, as well as buyers moving orders forward amid tariff uncertainty.

Negotiations between Washington and Hanoi continue, with concerns over transshipment and future tariff rates still unresolved. Nevertheless, economic forecasts remain optimistic, with HSBC predicting strong growth for Vietnam in the coming year, driven by robust exports and the expanding electronics sector.