A possible jump in tariffs on Vietnamese goods after Donald Trump won the US presidential election yesterday is a key concerns among businesses in Vietnam, according to analysis from Tuoi Tre.

The publication cites Trinh Viet Hoang Minh from ACBS Securities as suggesting Vietnam’s steel industry may face problems as Trump pursues protectionist measures on behalf of the US steel industry. Minh does, however, also suggest industrial park real estate, wood, and textiles are likely to benefit. He doesn’t really explain why for the first two but on the latter suggests Vietnam’s low-cost labour in the textile industry will be difficult to replace with American workers.

Alternatively, VN Economy is foreseeing benefits for Vietnam in that there may be greater movement of US factories out of China and into Vietnam. It does, however, also note that a blanket tariff on all imports into the US does not bode well for Vietnam’s export-oriented economy.

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