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$136.6 billion in U.S. imports from Vietnam

When the U.S. imports goods labeled "from Vietnam", the revenue gets split in several ways:

1. Cost of Foreign Inputs
Many Vietnamese exports (especially electronics, garments, furniture) include components or raw materials imported from other countries, like:

China, South Korea, Japan, Taiwan, and the U.S.

For example, a smartphone assembled in Vietnam might contain chips made in Korea or China.

So part of that $136.6B goes back out to pay for imported inputs.

2. Multinational Companies
Many factories in Vietnam are owned or operated by foreign companies, including:

Samsung, Intel, Foxconn, Nike, etc. Profits are often repatriated (sent back) to headquarters abroad, not kept in Vietnam.

3. Wages and Local Services
Vietnam does keep some of the value, especially through:
Worker wages
Local services and infrastructure
Tax revenue

4. Trade Margins (Shipping, Logistics, etc.)
Logistics firms, shipping companies, and exporters (often intermediaries) also take a slice.

How Much Does Vietnam Actually Keep?
The amount Vietnam keeps is called the domestic value-added (DVA). For developing export economies like Vietnam, this typically ranges between 30–50% of gross export value, depending on the industry.

👉 So, from $136.6 billion, Vietnam likely retains somewhere between $40–70 billion.

This means:

$60–95 billion could be going toward imported inputs and foreign-owned profit.

Trump's 46% Reciprocal Tariff on Vietnam

Trade Imbalance as a Percentage
U.S. Imports from Vietnam (2024): ~$136.6 billion
U.S. Exports to Vietnam (2024): ~$13.1 billion
Trade Deficit: ~$123.5 billion

The U.S. might have simply rounded this up to 90% to make a stronger rhetorical or political point.

The 90% figure is not a real tariff, and it's not based on any official duty rate Vietnam imposes on U.S. goods. It's more likely a rounded trade imbalance ratio used for political messaging.

Using this formula: