Vietnamese businesses are building plans to expand aluminum export markets after the US President Donald Trump ordered a 25% import tax on all steel and aluminum entering the US, which will take effect from March 4, 2025.

In 2024, Vietnamese businesses exported $983 million worth of steel and steel products to the US, up 179% year-on-year, and $479 million worth of aluminum and aluminum products, surging 9.5% year-on-year.

Vietnamese steel and aluminum products exported to the US are currently subject to a tariff rate of 10% and 25%, respectively, which has been applied  since 2018.

Mrs Ly Thi Ngan, Chief of Office of the Association of Vietnamese Aluminum Profile, said the association has proactively analyzed markets to help members acknowledge opportunities and risks in order to prepare plans to expand their export markets, reducing their dependence on the US market.