Despite the newly announced 46% retaliatory tariff by the United States, Vietnamese technology companies are not expected to face significant disruption. The policy is seen as targeting sectors such as electronics, garments, and agriculture - areas dominated by foreign direct investment (FDI) firms like Samsung and Intel - rather than the domestic tech industry.

Tech sector largely unaffected

In the early hours of April 3 (Vietnam time), U.S. President Donald Trump released a list of countries subject to high import tariffs. Vietnam was among the hardest hit, facing a 46% duty on goods exported to the American market - second only to Cambodia.

The steep tariff hike is poised to curb many of Vietnam’s key export categories, including electronics, apparel, footwear, and furniture. However, Vietnamese tech companies appear to have been spared the brunt of this measure.

According to multiple industry leaders, the U.S. tax policy is focused on protecting its domestic manufacturing industries and does not apply to the information technology service sector.

Viettel and FPT unfazed

Tao Duc Thang, Chairman of Viettel, confirmed to VietNamNet that the group has not experienced any immediate impact. “We will continue to monitor the situation and study the implications,” he said.

Similarly, leading IT service provider FPT is unaffected. In 2024, the company signed a $225 million deal with a U.S. client - its largest to date - focused on managed IT services over a three-year period, involving more than 1,000 engineers working across onshore, nearshore, and offshore models.

Since the new U.S. tariff policy targets goods and not services, FPT’s operations in the United States remain untouched.

Rikkeisoft: No direct impact, but benefits from stronger yen

Rikkeisoft, a Vietnamese software exporter focusing on Japan and the U.S., also reports no direct consequences from the new tax policy. However, Phan The Dung, Senior Vice President of Rikkeisoft, said that “some Japanese clients of ours may be affected.” He added that a weaker dollar and stronger yen resulting from the situation could even benefit their Japanese-side operations.

FDI giants more vulnerable

Tran Huu Quyen, Chairman of VNPT Technology, believes that the U.S. policy is more likely to impact foreign-invested tech firms such as Samsung, LG, and Intel, which are major electronics exporters to the U.S.

“While this new policy is concerning, we should wait for further bilateral negotiations between the Vietnamese and U.S. governments,” Quyen noted. “Vietnam has long prepared for such scenarios through resolutions like Party Resolution 57, National Assembly Resolution 103, and the government's action programs, which focus on sustainable, self-reliant growth through technology and innovation.”

Government response and strategic vision

On April 3, Prime Minister Pham Minh Chinh convened a meeting with top government officials to discuss immediate and long-term strategies in response to the U.S. tariff hike.

The Prime Minister emphasized the need for “balanced and sustainable trade relations,” while also protecting legitimate rights and interests of all stakeholders.

He added that this challenge presents an opportunity for Vietnam to prove its resilience and accelerate structural reforms: “We must restructure the economy toward fast and sustainable development, green transformation, digitization, innovation, and scientific advancement.”

He urged efforts to diversify markets and supply chains, promote import substitution and localization, and review policies to better train high-quality human resources.

Thai Khang