At the regular press conference of the first quarter of 2025 of the Ministry of Finance on the afternoon of April 3, Mr. Tran Ba ​​Tuan, Deputy Director of the Department of Management and Supervision of Tax, Fee and Charge Policies, said that this is a much higher tax rate than the current rate.

According to Mr. Tuan, this will negatively affect many manufacturing industries in Vietnam, especially industries with large export turnover to the United States such as electronics, textiles, agriculture , leather and footwear, etc.

Mr. Tuan said that in recent times, in order to proactively and flexibly adapt to the world situation and to achieve the set growth target, the Ministry of Finance has reviewed the import tax rates specified in the preferential import tax schedule to advise the Government on appropriate adjustments.

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Vietnam's average tax rate on US exports is 15%, much lower than the 90% rate. Photo: NL

On March 31, the Government issued Decree 73/2025, which significantly reduces import tax rates on a number of commodity groups of interest to our major trading partners, including the United States.

The adjustment of import tax rates according to the Decree aims to balance and improve the trade balance as well as help domestic businesses and consumers have the opportunity to access more diverse markets and lower tax costs.

Accordingly, the Decree has adjusted to reduce import tax rates of 16 groups, related to automobiles, agricultural products, ethanol, wood and wood products...

Mr. Tuan said that Vietnam's average tax rate on US export goods is 15%, much lower than 90%.

“It is necessary to clarify, in addition to the tax factor, what is the basis for the US to come up with the figure of 90% and apply a tax rate of 46%. 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%. Most US goods when exported to Vietnam have an import tax rate of 15% or lower. Thus, our tariff level is much lower than the 90% level,” said Mr. Tuan.

Speaking further about the reciprocal tax figures given by the US, Deputy Minister of Finance Nguyen Duc Chi said that the Ministry of Finance and relevant agencies are still investigating the reasons to find immediate solutions. In addition, Mr. Chi hopes that the US will listen to opinions from Vietnam and come up with appropriate balancing policies.

For more information, Deputy Minister Nguyen Duc Chi said that the Ministry of Finance is continuing to research, clarify and persistently discuss and find solutions to balance trade, in a direction that brings benefits to both sides.

According to Deputy Minister Nguyen Duc Chi, this weekend, representatives of the Vietnamese Government will visit the US to discuss many issues related to this issue.

He hopes that the level announced by the US government is the maximum level, and the specific number will be given after the two sides discuss solutions.

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Source: https://vietnamnet.vn/bo-tai-chinh-noi-gi-ve-muc-thue-46-my-ap-voi-hang-hoa-viet-nam-2387627.html