The Trump administration has officially announced the application of reciprocal tariffs on a series of countries. Of these, Vietnam will be subject to a 46% tariff. This figure is believed to be calculated by the US side, which said that Vietnam has imposed tariffs and trade barriers of up to 90% on US goods.
Regarding this issue, in the regular press conference in March 2025, answering reporters' questions, Mr. Truong Ba Tuan, Deputy Director of the Department of Management and Supervision of Tax, Fee and Charge Policies, said that currently, most of the goods that the US exports to Vietnam are only subject to a tax rate of 15%, much lower than the 90% rate that the US calculated.
“ The 46% tax rate that the US applies to Vietnam is much higher than the current tax rate that the US is applying. This will negatively affect many manufacturing industries in Vietnam, especially those with large export turnover to the US such as electronics, textiles, footwear, agricultural products…”, said Mr. Truong Ba Tuan.
The Ministry of Finance held a regular press conference in the first quarter of 2025, including sharing information about the US imposing reciprocal tariffs on Vietnam.
According to Mr. Truong Ba Tuan, in recent times, in order to proactively and flexibly adapt to the world situation and to achieve the set growth target, ensuring macroeconomic balances, the Ministry of Finance has reviewed the import tax rates specified in the preferential import tax schedule to advise the Government on appropriate adjustments.
And on March 31, 2025, the Government officially issued Decree 73/2025/ND-CP amending and supplementing preferential import tax rates of a number of items in the Preferential Import Tariff according to the List of taxable items issued together with Decree No. 26/2023/ND-CP dated May 31, 2023 on Export Tariff, Preferential Import Tariff, List of goods and absolute tax rates, mixed tax, import tax outside tariff quotas.
Accordingly, many items have had their taxes reduced. Specifically, the preferential import tax rate for automobiles with HS codes 8703.23.63 and 8703.23.57 has been reduced from 64% to 50% and automobiles with HS code 8703.24.51 have been reduced from 45% to 32%.
For ethanol, the preferential import tax rate is also reduced from 10% to 5%. The import tax rate for frozen chicken thighs is reduced from 20% to 15%; for unshelled pistachios is reduced from 15% to 5%; for almonds is reduced from 10% to 5%; for fresh apples is reduced from 8% to 5%; for sweet cherries is reduced from 10% to 5%; for raisins is reduced from 12% to 5%.
Wood and wood products, liquefied natural gas (LNG), corn kernels, etc. also have their taxes reduced during this period.
Therefore, reviewing and comparing with the current tax rates that Vietnam is applying to US exports to Vietnam, Mr. Truong Ba Tuan said that it is unclear on what basis the US has given such a figure to apply a 46% tax rate to Vietnam.
Mr. Truong Ba Tuan also said that the most recent report of the US trade representative showed that Vietnam's average tax rate on US export goods is 15%, much lower than the 90% rate.
"It is necessary to clarify, apart from the tax factor, what is the reason why the US side gave the figure of 90% and applied a tax rate of 46%," said Mr. Truong Ba Tuan.
Regarding this issue, Deputy Minister of Finance Nguyen Duc Chi also said that the Ministry of Finance is continuing to research and clarify, and at the same time persistently discussing and finding solutions to balance trade, bringing benefits to both sides.
According to Deputy Minister Nguyen Duc Chi, this weekend, representatives of the Vietnamese Government will visit the US to discuss this issue. Hopefully, the level announced by the Trump administration is the maximum level, and the specific number will be given after the two sides discuss solutions.
According to information, following the decision of the Donald Trump administration, this morning, the Government also chaired a meeting of the Government Standing Committee with ministries and branches to assess the situation and discuss immediate and long-term solutions after the US side just announced the imposition of reciprocal tariffs on goods from many countries, including Vietnam.
At the meeting, the Prime Minister directed a number of comprehensive, harmonious, reasonable, and effective measures, both short-term and long-term, with the US side, to promote balanced and sustainable trade relations, facilitate investors from both sides, and ensure the legitimate and legal rights and interests of related entities...
The Prime Minister also requested the immediate establishment of a rapid response team on this issue headed by Deputy Prime Minister Bui Thanh Son; assigned Deputy Prime Minister Ho Duc Phoc to chair and direct ministries and branches to listen to opinions from businesses, including large export enterprises.
The Prime Minister emphasized that the GDP growth target of 8% or more in 2025 remains unchanged.
Source: https://vtcnews.vn/bo-tai-chinh-phan-lon-cac-mat-hang-my-xuat-sang-viet-nam-chiu-thue-khoang-15-ar935544.html
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