This country bows down in front of US, offers to end tariffs, tough competition with India, country is….

Fulfilling his election campaign pledge, United States President Donald Trump on April 2 imposed retaliatory tariffs on many countries of the world. Since then, there has been an uproar in the entire world. The announcement impacted all the major markets, including the Asian market, Chinese market, and the Australian market; all are witnessing a decline. The Indian market also went down by 3,000 points as soon as it opened today. Meanwhile, news is coming from the Southeast Asian country of Vietnam. America had announced a tariff of 46 percent on Vietnam, after which Vietnam wrote a letter to America and offered not to impose tariffs on goods coming from there.

As per ET reports, to Lam, the head of the Communist Party of Vietnam, wrote a letter to the US on 5 April 2025. In which he urged the US to provide any concessions in the tariffs imposed against it. To Lam demanded that the US give it an exemption in tariffs for 45 days after 9 April. In return, he offered to sell American products in his country without tariffs for 45 days after 9 April. In return, he offered to sell ‘Made In America’ in the country without imposing any tariffs.

Big Blow To Vietnam

Notably, the Trump administration imposed the highest tariff on Asian countries, of which Vietnam and China are prominent. As per reports, Vietnam was becoming a major business partner of the Dragon. This tariff imposition will not only cause losses to Vietnam, but will also have an impact on China.

Chaos In Indian Market

America’s new tariffs have caused global market turmoil. At the time of this report, the Sensex, a major Indian stock market index, has dropped over 4%, currently trading at 72,315.17, a decrease of 3049.52 points.

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