By Francesco Guarascio
HANOI (Reuters) – The U.S. trade deficit with Vietnam exceeded $110 billion in the first 11 months of 2024, latest U.S. figures show, as exports from the Southeast Asian industrial hub grew amid a record fall of its currency against the dollar.
The latest reading, released on Tuesday by the U.S. statistics agency, showed a nearly 18% rise in the deficit compared with the same period the previous year. The data confirms the Communist-run country has the fourth highest commercial surplus with the United States, topped only by China, the European Union and Mexico.
The large gap is seen by analysts as a major risk for the export-reliant nation amid threats from President-elect Donald Trump to impose tariffs of up to 20% on all U.S. imports.
That risk has been compounded by a sharp fall of Vietnam’s dong in recent months, with the dong trading near its lowest ever levels against the dollar. The trend is closely…
