Market Highlight 22.01.2026

U.S President Donald Trump said late Tuesday that he would not impose tariffs on goods from European countries opposing his effort to secure Greenland, citing “the framework of a future agreement” that he said had been reached with stakeholders linked to the island. The announcement reversed his tariff threats against eight European countries made over the weekend. U.S equities surged on the news, with the S&P 500 and Nasdaq 100 climbing to session highs, while the USD Index rebounded by more than 0,2%. Earlier, the European Parliament had suspended the ratification of an EU - U.S Trade Agreement in response to President Trump’s tariff threats. While the Greenland dispute may have eased somewhat, Washington’s ambition to take control of the island suggests that renewed tensions between the U.S and the EU cannot be ruled out in the period ahead.

According to a representative of Vietnam’s Ministry of Industry and Trade, exports in 2026 are projected to rise by around 8% to 513 billion USD, while the trade balance is expected to remain in surplus at more than 23 billion USD, up 15% from 2025. The target is considered achievable, though still challenging given the many potential headwinds that could weigh heavily on export activity. The most supportive factor is Vietnam’s extensive network of FTAs with major markets, which continues to underpin growth in key export strengths such as electronics, machinery and components, textiles and garments, footwear, and agricultural-forestry-seafood products.

The USD/VND interbank exchange rate traded within a narrow range of 26.265 - 26.275 yesterday before closing at 26.268. A stable range around 26.250 - 26.300 is expected to persist through the remainder of January 2026.

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