Minister Nguyen Hong Dien sent a diplomatic note requesting the US to temporarily postpone the decision to impose tariffs.

On the afternoon of April 3, Mr. Ta Hoang Linh - Director of the Department of Foreign Market Development (Ministry of Industry and Trade) shared with the press the views of the Vietnamese Ministry of Industry and Trade regarding the case of the US imposing a reciprocal tax of up to 46% on Vietnamese goods.

Mr. Linh said: "The Ministry of Industry and Trade regrets that the US announced a 46% tax on all Vietnamese export goods, effective from April 9."

Director Ta Hoang Linh said that Vietnam and the US are two complementary economies. The export and foreign trade structures of the two countries do not compete directly but complement each other, in accordance with the internal needs of each country.

Vietnamese goods exported to the US mainly compete with third countries, not directly with American businesses in the US market. On the contrary, Vietnamese goods exported to the US also create conditions for American consumers to use cheap goods.

The Ministry of Industry and Trade predicts that in the coming time, our export activities will face many difficulties. Photo: PLO

“The average MFN tax rate that Vietnam currently applies to imported goods is 9.4%. Therefore, the reciprocal tax rate that the US plans to apply to Vietnamese goods of up to 46% is unscientific and truly unfair, and does not reflect Vietnam's goodwill and efforts over the past time in dealing with the trade deficit between the two countries,” emphasized the Director of the Foreign Market Development Department.

According to the representative of the Ministry of Industry and Trade, in the recent past, the Government and ministries have resolved a series of difficulties and obstacles of US enterprises in Vietnam, issued a Decree on MFN tax reduction, in which 13 groups of advantageous US goods benefited. In addition, many US projects in Vietnam have received attention, resolved and removed difficulties and obstacles.

According to the White House announcement, the reciprocal tariffs that the US imposes on its trading partners aim to correct global trade injustice, bring production back to the country, strengthen national security, and promote economic growth.

It is understood that the tariffs will remain in place until the US determines that the threat posed by the trade deficit and unfairness in trade is addressed, remedied or mitigated.

“Therefore, the Ministry of Industry and Trade believes that there is still room for discussion and negotiation between the two sides to reach a mutually beneficial outcome,” said Mr. Linh, adding that this morning, right after the US announced the imposition of tariffs, Minister of Industry and Trade Nguyen Hong Dien sent a diplomatic note requesting the US to postpone the decision to impose tariffs to take time to discuss and find a reasonable solution for both sides.

“We are arranging a phone call between the two Ministers as well as at the technical level with colleagues at the US Trade Representative (USTR) as soon as possible,” said Mr. Linh.

In 2025, the Ministry of Industry and Trade aims for export growth of about 12%, equivalent to about 450 billion USD. This target is set in the context of global economic recovery and Vietnam taking advantage of signed free trade agreements.

In case Vietnam and the US cannot find a positive solution, Mr. Linh said that this tax imposition will have a certain negative impact on the export growth target. However, the Ministry of Industry and Trade has predicted and prepared, has proposed a specific Action Plan to the Government and advised businesses to take necessary steps when the problem occurs.

The Ministry of Industry and Trade forecasts that in the coming time, our export activities will face many difficulties, therefore, close coordination between ministries, sectors and enterprises is needed to effectively implement the proposed solutions to achieve the export growth target in 2025.

To realize the above goal, the Ministry of Industry and Trade believes that export enterprises need to take advantage of existing strengths, which are 17 free trade agreements with over 60 countries and territories and 70 bilateral cooperation mechanisms.

At the same time, businesses also need to diversify their export markets. The US market accounts for 13% of global imports, but Vietnam's exports to the US account for 30% of Vietnam's total export turnover.

This is both an advantage and a weakness of export activities. Vietnam still has many opportunities to exploit the remaining 87% of the world's market. The Ministry of Industry and Trade said it will continue to make efforts to open up export routes to new markets with much room.

Source PLO

Source: https://baotayninh.vn/bo-truong-nguyen-hong-dien-gui-cong-ham-de-nghi-my-tam-hoan-quyet-dinh-ap-thue-a188369.html