Tariffs in U.S. Trade Policy under the Trump Administration: Theory, Practice, and Implications for Vietnam

Abstract

One of the most notable developments in international relations since early 2025 has been the continuous use of tariffs by the Donald Trump Administration in its dealings with various countries, including adversaries, partners, allies, and notably, Vietnam. Therefore, understanding the context, nature, and objectives of tariffs as a tool in future U.S. trade policy is crucial. This understanding aims to derive key policy implications, which is the primary goal of this article.