National courage before the US tax decision

The above tax rate was based on information that Vietnam imposes a 90% tax on imported goods from the United States. However, this figure needs to be objectively verified and discussed frankly, transparently and in a spirit of mutual respect. In fact, Vietnam always seriously implements its international trade commitments, including within the framework of the WTO and bilateral and multilateral trade agreements.

No matter the circumstances, Vietnam is always a reliable partner of the United States – consistent in its foreign policy of peace, cooperation and mutual development. Vietnam is ready to engage in reasonable and constructive dialogue, and is determined not to choose confrontation as a method of international behavior.

Don't panic yet – this is not the end.

Trade policy has always been highly flexible, especially in the United States, where executive decisions can be influenced by Congress, businesses, and the American public.

The announcement of the new tariffs is a political and negotiating statement – ​​not necessarily a closing of the door for Vietnamese goods. In fact, many American businesses, industry associations and trade organizations that have close relations with Vietnam will speak out, because they themselves are also suffering losses.

Vietnam is not alone – we have partners, prestige and plans.

Dr. Nguyen Si Dung

Vietnam has signed a series of new-generation free trade agreements (EVFTA, CPTPP, RCEP, etc.), opening up large markets from the EU to Asia-Pacific. Market diversification is a sound long-term strategy, helping Vietnam minimize risks from unilateral dependence.

Furthermore, as a global economy, Vietnam has the right to use bilateral and multilateral negotiation channels, from the WTO to dispute settlement mechanisms. We have experience, a legal team and international trust – this is very different from the image of a small and vulnerable economy as before.

In danger there is opportunity – Time to restructure and upgrade the value chain

The US trade tightening could be a boost for Vietnam to accelerate the process of transforming its export model. Instead of relying on processing and assembly, this is the time for us to increase the localization rate, develop supporting industries, and move towards producing products with higher technology content and added value.

The fact that FDI flows may be affected in the short term further strengthens the pivotal role of the domestic private economy – a force that is increasingly dynamic, creative and eager to grow. This also creates positive pressure for Vietnam to reorganize its supply chain, moving towards strategic autonomy, not being too dependent on any one source of capital or market.

To ensure growth targets in the new context, boosting the domestic economy is a must. This is the time to have strong and targeted economic stimulus measures, focusing on effective public investment, supporting small and medium enterprises, expanding the domestic market, promoting consumption, and promoting the development of the private economy.

At the same time, Vietnam needs to further accelerate the process of institutional reform – from the business environment, administrative procedures to tax, land, science and technology policies. Reform is no longer an option, but a vital condition to enhance resilience and the ability to make breakthroughs.

This is also the time for each locality and each enterprise to break through, promote internal strength, creativity and courage to overcome the challenging period with the country. A healthy economy cannot only look to the outside world – but must be nurtured from the desire for development within.

Vietnam has signed a series of new-generation free trade agreements (EVFTA, CPTPP, RCEP...), opening up large markets from the EU to Asia-Pacific.

The Role of the State – Accompanying and Creating

The Vietnamese government certainly will not stand aside. On the morning of April 3, just hours after the US tariff announcement, Prime Minister Pham Minh Chinh convened an urgent meeting of the Government Standing Committee with relevant ministries and branches. The instructions issued – which covered all the important topics mentioned above – were timely, wise and strategic – clearly demonstrating a proactive spirit, not being surprised by external fluctuations.

The Prime Minister has requested a comprehensive assessment of the impacts – both direct and indirect, both short-term and long-term, both positive and negative – on the economy, trade, employment and market sentiment, and directed the development of flexible response scenarios. The Government has also promoted high-level dialogue channels with the United States, using bilateral and multilateral mechanisms such as the WTO to protect the country's legitimate interests. The Government is making every effort to ensure national interests against the new US tariffs.

Not stopping there, solutions to support businesses in shifting markets, increasing resilience, improving competitiveness, stabilizing exchange rates and capital flows have also been deployed simultaneously. These actions are an affirmation of the State's role in leading trust. markets and maintaining macroeconomic stability – two vital factors in uncertain times.

In challenging times like today, under the wise and steadfast leadership of the Party Central Committee, directly and regularly led by the Politburo and the Secretariat, the Vietnamese Government is truly a beacon in the storm, illuminating the direction for businesses and people, maintaining faith in the future and adding energy for the entire economy to overcome the storm firmly and confidently.

Courage makes the difference

Vietnam’s economic history has experienced many shocks – from embargoes, financial crises, natural disasters, epidemics to unexpected policy changes from major partners… Just in this term alone, if the first year was affected by the COVID-19 pandemic, 2022 was the conflict in Europe, 2024 was super typhoon Yagi, then early 2025 was the tax shock. But each time, we stood firm, and even emerged stronger.

Prime Minister Pham Minh Chinh emphasized the spirit of maintaining calmness and courage, having proactive, flexible, timely and effective responses to all developments to continue to overcome difficulties, obstacles and external shocks as has been done in recent years.

Tariffs may be a temporary barrier, but they cannot stop the creativity, adaptability and aspiration of the Vietnamese people. The world is still vast, there are still many opportunities – and with the consensus of the government, businesses and people, Vietnam will overcome this challenging period with the mindset of an increasingly mature, courageous and responsible nation and economy.

Above all, Vietnam has always chosen the path of peace, cooperation and dialogue. No door is truly closed as long as all parties maintain goodwill and mutual respect. That is also the strongest message we send to our international friends at this time.

Dr. Nguyen Si Dung

Source: https://baochinhphu.vn/ban-linh-quoc-gia-truoc-quyet-dinh-ap-thue-cua-hoa-ky-102250404060658254.htm