Bac Giang currently has around 200 companies exporting to the US market. Within its industrial parks alone, there are 31 direct exporters and dozens of supporting businesses, some fully export-oriented and others partially, operating in sectors such as electronics, high-end wood manufacturing, solar battery production and mechanical engineering.

Production line at JASolar Vietnam Co., Ltd.

Electronics is a leading export category, with notable contributors including six firms under Foxconn’s ecosystem, two under Luxshare and eleven others. The solar battery sector includes five companies exporting finished products, supported by a network of 12 auxiliary enterprises.

According to Bac Giang Customs, in 2024 the province's direct export turnover to the US surpassed 13.1 billion USD, accounting for nearly 40 percent of its total export revenue. In the first quarter of this year alone, 176 enterprises recorded exports valued at over 4.5 billion USD to the US. Given the significant weight of US-bound exports, any increase in tariffs could severely impact local businesses.

The provincial Industrial Park Management Board noted that the imposition of reciprocal tariffs by the US would not only affect business performance but also the employment stability of thousands of workers within these parks.

In response, the province has urgently directed relevant agencies to assist businesses at risk of being affected by the new US tax policy.

According to Luong Van Nghiep, deputy director of the Department of Finance, businesses are being encouraged to seize this "golden window" — the 90-day tariff delay — to ramp up production, expand operations and maximize export value. The Department of Industry and Trade has also provided guidance on leveraging free trade agreements to help businesses pivot toward promising alternative markets.

Nguyen Van Quy, deputy head of the provincial Industrial Park Management Board, reported that companies exporting to the US are striving to maintain production schedules and fulfill orders for their partners. Some are even expanding recruitment, adding shifts and increasing output.

Amid these challenges, several businesses have proposed that, beyond the tax deferral measures under Decree No. 82 dated April 2, 2025 (covering value-added tax, corporate income tax, personal income tax and land rental payments), the government should consider additional support policies — such as reducing import taxes on input materials and offering preferential credit packages to maintain operations and secure employment.

Businesses also highlighted the need to restructure supply chains, with a particular focus on developing domestic supply networks to reduce reliance on imported components and increase localization rates.

Fukang Technology Co., Ltd is one of the enterprises with high export turnover to the US market.

Moreover, companies have urged the provincial government to petition the central authorities to implement policies aimed at stabilizing the macroeconomy, controlling inflation, fostering a stable investment environment, reforming customs procedures, expediting clearance times and improving logistics infrastructure to reduce storage and transportation costs.

Timely updates on international policy changes are also critical, enabling businesses to prepare proactive response strategies and minimize risks and losses.

Relevant agencies have been tasked with guiding businesses on strict compliance with international standards and regulations regarding the origin of goods.

Many experts believe that, amid the rising US tariffs, free trade agreements will serve as key "expressways" for international trade, offering Vietnam crucial opportunities for deeper economic integration. To capitalize on these, businesses must actively explore new markets and reduce their dependence on any single destination.

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