HANOI, April 3 (Reuters) - 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.

Leaders of the trade ministry will present a report on the

impact of the tariffs on Vietnam's exports and its economic

growth prospects, the Tien Phong newspaper reported, citing a

ministry official.

Trade minister Nguyen Hong Dien, central bank governor

Nguyen Thi Hong and Minister of Finance Nguyen Van Thang were

among those attending, reported Vietnam News Agency.

The U.S. is the largest export market for Vietnam, an

export-reliant industrial hub. Exports to the United States were

worth $142 billion last year accounting for nearly 30% of its

gross domestic product. Its trade surplus with the U.S. exceeded

$123 billion last year.

"It's a shock for the

global economy

, and for the Vietnamese economy," said economist Vo Tri

Thanh, former deputy director of the Vietnam Institute for

Economic Management.

"It will negatively impact Vietnam's economy," Thanh

said.

Vietnam's benchmark stock index fell as much as

5.3% in early trade on Thursday to 1,247 following the White

House announcement.

Hanoi had recently taken a series of measures to reduce

its trade surplus with Washington, including cutting tariffs on

a wide range of goods destined for the U.S.