Vietnam's foreign ministry on Friday said it regrets the U.S. decision to impose reciprocal tariffs on its exports.

What looked like a safe bet to move manufacturing supply chains out of China is turning out to be a nightmare for many big retail brands.

Vietnamese Prime Minister Pham Minh Chinh held an urgent cabinet meeting early on Thursday, state media reported, hours after the Trump administration said Vietnam would be hit with U.S. tariffs of 46% as it announced a global round of tariffs.

Retailers may not be able to fully offset these tariffs, as countering the impact of the levies on Vietnam alone would require price increases of 10% to 12%, per analysts.

China's President Xi Jinping and European Union leaders are set to visit Vietnam in the next few weeks in a swirl of diplomatic activity amid growing risks from U.S. trade tariffs, officials said.

Trump's reciprocal tariffs are poised to raise duties on Chinese imports to 54%. In addition, the White House is imposing a base 10% tariff on imports from most foreign countries.

Vietnam, in a race to head off possible new US tariffs, announced it slashed import levies on a range of products, including liquefied natural gas and automobiles, according to a statement on the government’s website.

Luke Sparke’s sci-fi horror take on Ethan Pettus’ book where U.S. soldiers discover jungle enemies including primordial beasts will hit theaters this summer.

Explain how Vietnam has benefitted from U.S.-China trade tensions.