Market Highlight 04.06.2026

The U.S Government is proposing new tariffs of at least 10% on many of its trading partners, citing concerns related to the protection of workers subjected to forced labor. This is President D. Trump’s latest move to replace tariff measures that were struck down by the Supreme Court earlier this year. Late on Tuesday, the Office of the United States Trade Representative (USTR) said that goods from the European Union, the UK, and more than a dozen other economies would face a new 10% tariff. Other countries, including China, Japan, and India, would face a 12,5% tariff. These new tariffs suggest that the U.S administration is gradually rebuilding its tariff wall after the Supreme Court’s February 2026 ruling removed a key part of the White House’s tariff program. Following that ruling, the U.S imposed a 10% tariff on most trading partners under a different legal authority, but those tariffs are due to expire at the end of July.

The Organisation for Economic Co-operation and Development (OECD) said the global economy is expected to slow significantly this year as higher energy costs weaken consumer spending and business investment. The situation could become far more severe if the conflict in the Middle East extends into 2027. Global economic growth is likely to come in at only 2,8% in 2026, down from 3,4% recorded last year. If disruptions to energy production and shipping continue into next year, global growth could fall to 2,1% in 2026 and 1,8% in 2027.

Domestically, interbank USD/VND maintained a mild upward trend to 26.345 yesterday, marking a third consecutive daily gain. The effective daily ceiling was raised by a further VND 4 to 26.402.

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