What does the Ministry of Finance say about the 46% tax rate the United States imposes on...

With this forecast, Mr. Tuan commented that it will negatively affect many of our manufacturing industries. Especially the major export industries to the United States such as electronic components, agriculture, textiles, footwear...

Deputy Director of the Department of Tax, Fee and Charge Policy Management and Supervision Truong Ba Tuan.

In recent times, in order to proactively and flexibly adapt to the world economy, as well as achieve the growth target set by the Government and carry out assigned tasks, the Ministry of Finance has reviewed, especially policies related to import-export taxes, in order to advise the Government on appropriate adjustments.

Recently, the Government issued Decree No. 73/2025/ND-CP dated March 31, 2025 (Decree 73), which significantly reduces import tax rates on a number of commodity groups of interest to our major trading partners, including the United States.

Press conference scene.

The implementation of import tax rate adjustments in Decree 73 aims to balance and improve the trade balance with major partners, especially partners with whom preferential agreements have been reached.

Regarding the information that the US announced a reciprocal tax rate of up to 90%, the applicable rate will be 46%. Mr. Tuan said: "When the Ministry of Finance submitted to the Government to issue Decree 73, it also proactively reviewed all tax policies currently applied to imported goods, thereby providing a basis for advising the Government to issue regulations. However, if we look at the reciprocal calculation figures announced this morning, we need to clarify the basis, or basis, on which the US came up with such a figure, not only for Vietnam but also for many other trade partners of this country".

Mr. Tuan added: The most recent report from the Office of the US Trade Representative also mentioned that the average tax rate of Vietnam's tariff is only 9.4%. It also clearly stated that most US goods when exported to Vietnam have an import tax rate of 15% or lower. That shows that our tariff level is much lower than the 90% rate.

Therefore, Mr. Tuan believes that we need to clarify, in addition to the tax factor, what other reasons are there for the US side to consider when calculating the corresponding tax figure. From there, we can have a suitable solution.

"If it is purely tax, it will not reach the announced 90% figure," Mr. Tuan affirmed.

Speaking further about the reciprocal tax figure given by the US, Deputy Minister of Finance Nguyen Duc Chi said that ministries and sectors are also researching and studying to see what the basis of the US's calculation is, from which appropriate solutions can be found. In addition, Deputy Minister Nguyen Duc Chi hopes that the US will listen to opinions from Vietnam and come up with appropriate balancing policies.

Deputy Minister of Finance Nguyen Duc Chi.

Regarding the solution to balance trade, Deputy Minister Nguyen Duc Chi said that we should aim to increase turnover, persistently find solutions in exchange and sharing with the US trade partner, so that consumers in both economies can benefit from trade development.

News and photos: QUYNH ANH

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Source: https://baodaknong.vn/bo-tai-chinh-noi-gi-ve-muc-thue-46-hoa-ky-ap-dung-voi-viet-nam-248222.html