Deputy Prime Minister Ho Duc Phoc: The Vietnamese Government has asked the United States to consider postponing tariffs for 1-3 months to negotiate.

Deputy Prime Minister Ho Duc Phoc speaks. Photo: An Dang/VNA

Concerns over US tariffs

At the meeting, representatives of associations of wood, seafood, pepper, electronics, footwear, steel, textiles, plastics, etc. industries expressed concern about the imposition of US tariffs on goods from Vietnam; stating that agricultural, forestry, fishery, and footwear products that Vietnam exports to the US are not only products that meet increasingly high standards and have comparative advantages, but also complement the economy and benefit US consumers. Exporting goods from Vietnam to the US is mutually beneficial.

Opinions affirm their readiness to increase imports of products from the United States; provide evidence to prove origin and capacity, serving the negotiation process. The US market is an important and leading market, and this market must be maintained by all means.

Stating that Vietnam is the global base of Samsung Group, the representative of Samsung Vietnam suggested that during the negotiation process, the Government should emphasize the important role of Vietnam in the global supply chain. Imposing a uniform tax of 46% on goods originating from Vietnam not only affects the global supply chain but also creates a burden for US consumers and businesses...

Mr. Dinh Viet Phuong, CEO of Vietjet (SOVICO Group) said that in 2025, it will receive 10 Boeing aircraft worth 1.8 billion USD; the total contracts from the US this year are about 2.2 billion USD... Vietjet's and SOVICO's activities with the US are strategic and sustainable. Vietjet's CEO thanked the Government for its great attention and support for businesses in the process of cooperation with the US market in the past time, and at the same time made recommendations for the upcoming negotiations to achieve good results.

Proposing many specific and practical contents both in the short and long term for the Vietnamese Government to negotiate with the US Government, especially those related to product lines, industries, and tax imposition time; recommending measures to reduce the trade deficit between the two countries, representatives of associations and enterprises pledged to continue to actively cooperate to resolve challenges in the coming time. At the same time, believing that with the efforts, goodwill and active participation of the Vietnamese Government, the negotiations will bring positive results, continuing to contribute to promoting economic and trade relations between the two countries.

Balance of trade turnover between the two countries

Representatives of the American Chamber of Commerce in Vietnam (AmCham) and the US-ASEAN Business Council highly appreciated Vietnam's timely and harmonious response to the US's imposition of tariffs, pointed out Vietnam's advantages, the contents that need to be focused on discussing, negotiating, removing barriers and challenges, and appropriately and effectively handling the issues raised by the US so that the two economies can develop together.

AmCham Hanoi Vice President Virginia Foote said that Vietnam should buy more goods from the United States and needs to make strong commitments. Some US businesses really want Vietnam to be able to close contracts in energy projects, liquefied natural gas (LNG), aircraft, etc., thereby balancing the trade turnover between the two countries. US companies see that Vietnamese consumers are willing to consume their products, so US businesses will find ways to bring their goods to Vietnam.

An important point mentioned by Ms. Virginia Foote is that Vietnam needs to show the United States its efforts in combating transshipment of goods and thoroughly resolving accusations and rumors that are not beneficial to Vietnam.

“The relationship between the two countries has come a long way, with many achievements, close relationships from the political level, people-to-people, educational cooperation... Our relationship is being damaged by these barriers, so we really want to work with the Vietnamese Government to come up with measures to reduce barriers and challenges, so that the two economies can develop strongly together,” said Ms. Virginia Foote.

At the meeting, leaders of the Ministry of Agriculture and Environment, Ministry of Industry and Trade, Ministry of Science and Technology, Ministry of Finance, State Bank, etc. affirmed that Vietnam will continue to dialogue and review to consider and remove technical barriers, adjust taxes on groups of goods and industries; and wish to import scientific and technological products, groups of goods with high technology content, the US has strengths to promote trade cooperation between the two countries.

Representatives of ministries and sectors suggested that the American Chamber of Commerce in Vietnam and the US-ASEAN Business Council recommend to the Trump administration to increase dialogue; postpone the imposition of new tariffs (about 2-3 months) while the two sides negotiate and find common ground.

Deputy Minister of Finance Le Tan Can presented four main solutions related to monetary policy, fiscal policy, trade in goods, and strengthening dialogue and promoting cooperation with the United States. He said that it is necessary to prepare scenarios for bilateral dialogue; including studying negotiation options in the direction of postponing the tax deadline in order to have time to carefully review the taxed items, analyze each item for negotiation, ensuring harmony, reasonableness, and benefits for both sides.

Deputy Minister Le Tan Can said that the Ministry of Finance has reviewed all taxes currently applied to countries, especially Strategic Partners and Comprehensive Strategic Partners, including the United States. To deal with the issue of origin fraud and illegal transshipment, the Ministry has directed the Customs Department to strengthen management of import and export activities; raise awareness and effectively enforce legal regulations on trade defense, origin, customs, and prevention of evasion of trade defense measures, etc.

Temporarily suspend tariffs to negotiate

Deputy Prime Minister Ho Duc Phoc speaks. Photo: An Dang/VNA

Expressing surprise when on April 2, the United States imposed an import tax of 46% on Vietnamese goods entering the country, Deputy Prime Minister Ho Duc Phoc affirmed that in recent times, Vietnam has always been proactive, receptive and strongly coordinated with the United States to negotiate fair taxes, combat the problem of goods transit, and promote two-way trade in a mutually beneficial direction.

On March 31, the Vietnamese Government issued Decree 73/2025/ND-CP, which reduced 23 US import tax lines to Vietnam, many of which have a 0% tax rate. In addition, Vietnam has been promoting contracts to purchase goods from the US (aircraft, LNG, etc.); creating favorable conditions for US businesses to invest, produce and do business in Vietnam. In the coming time, the Vietnamese Government will continue to promote solutions to increase the purchase of raw materials and equipment from the US.

According to the Deputy Prime Minister, Vietnamese and US goods do not compete with each other but complement each other. Vietnam pledges not to commit trade fraud and not to let other countries use Vietnam as a transit point; to properly implement international commitments, not to affect Vietnamese businesses and the economy, US consumption, the Comprehensive Strategic Partnership and the global value chain.

Affirming the goodwill of negotiations to soon find a common voice, Deputy Prime Minister Ho Duc Phoc stated: The Vietnamese Government proposed that the US consider temporarily postponing the imposition of tariffs for 1-3 months to negotiate, aiming to ensure tax fairness.

Vietnam will also implement solutions to increase the import of goods originating from the United States; wishes to promote cooperation with the United States in the fields of science, technology development, digital transformation, etc.

The Deputy Prime Minister asked Vietnamese enterprises exporting to the US market to maintain the price of goods while waiting for the negotiation results; at the same time, proactively deploy appropriate and effective solutions to "maintain this market". The Government will discuss and find solutions to help enterprises reduce difficulties.

The Deputy Prime Minister also asked the American Chamber of Commerce in Vietnam and the US-ASEAN Business Council to convey the message of goodwill from the Vietnamese Government and business community to the Trump administration so that negotiations can be effective and achieve good results, contributing to promoting the comprehensive strategic partnership between the two countries./.

Source: https://hanoimoi.vn/pho-thu-tuong-ho-duc-phoc-chinh-phu-viet-nam-de-nghi-hoa-ky-can-nhac-tam-hoan-ap-thue-tu-1-3-thang-de-dam-phan-697950.html