Việt Nam seeks US's delayed imposition of new tariffs for negotiations: Deputy PM

Deputy Prime Minister Hồ Đức Phớc chairs a meeting with enterprises exporting products to the US, industry associations, and related agencies on April 4 in Hà Nội. — VNA/VNS Photo

HÀ NỘI — Deputy Prime Minister Hồ Đức Phớc announced on Friday that the Vietnamese Government has proposed the US delay its imposition of new 46 per cent tariffs on Vietnamese goods for 1-3 months, aiming to pave the way for negotiations that ensure fair taxation.

Phớc made the statement at his working session in Hà Nội with enterprises exporting products to the US, industry associations, and related agencies.

The Deputy PM expressed his surprise at the US's decision announced on April 2, but underscored Việt Nam's consistent openness and cooperation with the US in securing equitable tariffs, curbing goods transshipment, and fostering mutually beneficial trade.

He highlighted a recent decree, issued on March 31, slashing 23 tariff lines on goods imported from the US, many now at 0 per cent, as proof of Việt Nam's goodwill. The country has also fast-tracked contracts for US products like aircraft and liqied natural gas (LNG), while easing the way for US investment and trade.

Looking ahead, Phớc affirmed Việt Nam's intent to boost imports of US raw materials and equipment, noting that the two nations’ goods complement each other rather than compete. He reiterated Việt Nam's firm stance against trade fraud, ensuring it will not serve as a transshipment hub, and pledged adherence to international commitments to avoid affecting businesses and the economy of Việt Nam, the US's consumption, the Việt Nam-US Comprehensive Strategic Partnership and global supply chains.

Việt Nam will also roll out measures to increase cooperation with the US in sci-tech and digital transformation, and increase imports of American-made products as well, the Deputy PM said.

He encouraged Vietnamese exporters to hold steady on prices while waiting for results of negotiations and adopt proactive strategies to maintain their US market shares. The Vietnamese Government, Phớc added, will work closely with businesses to devise solutions to weather these challenges.

The Deputy PM also called on the American Chamber of Commerce (AmCham) in Việt Nam and the US-ASEAN Business Council to convey the message of goodwill from the Vietnamese Government and business community to President Donald Trump’s administration to foster effective talks that could further reinforce the Việt Nam-US comprehensive strategic partnership.

Virginia Foote, Vice Chair of AmCham Hà Nội, welcomed Việt Nam's efforts, noting US companies’ eagerness to finalise deals in energy, LNG, and aviation to balance trade.

She highlighted US firms’ confidence in Vietnamese consumers’ demand, thus driving their push to expand in this vibrant market.

Foote also advised Việt Nam to show its efforts in combating transshipment of goods and thoroughly resolving accusations and rumors that are not beneficial to Việt Nam.

Opinions suggest that Việt Nam's exports of agricultural, forestry, fishery products, and footwear to the United States are not only products that meet increasingly high standards and possess comparative advantages but also contribute to the economy and benefit US consumers, heard from the meeting.

The export of goods from Việt Nam to the US is mutually beneficial; businesses and associations affirm their readiness to increase imports of US products, provide evidence to verify origin and capacity to support negotiations, and stress that "by all means, this market must be maintained."

Providing various practical consultations for the Vietnamese Government in negotiations with the US, especially regarding product categories, industries, and tax imposition timelines, representatives of associations and enterprises also propose measures to reduce the trade deficit between the two countries. They pledge to continue actively cooperating with the Vietnamese Government to address future challenges. — VNS

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