President Donald Trump announced a 'very productive call' with To Lam, General Secretary of the Communist Party of Vietnam. During the call, Vietnam expressed willingness to cut tariffs to zero if an agreement with the U.S. can be reached.
This development signals a potential de-escalation of trade tensions that could benefit companies with significant manufacturing operations in Vietnam. Such an agreement would alleviate concerns about new U.S. levies.
For On Holding AG, which sources a substantial portion of its products from Vietnam, a tariff reduction would be a positive development. It could lead to lower import costs and improved profitability, mitigating previous tariff-related headwinds.
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