Prime Minister: Promoting balanced and sustainable Vietnam-US trade

On the morning of April 22, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee with relevant ministries, branches and agencies on preparing for negotiations and promoting balanced, stable and sustainable trade relations with the United States.

This is the fifth time Prime Minister Pham Minh Chinh has chaired a private meeting to implement the conclusions and directions of the Politburo and General Secretary To Lam on adapting to the new US tariff policy and promoting balanced and sustainable trade relations with the US.

Promoting balanced and sustainable Vietnam-US trade

After the Deputy Prime Ministers and leaders of ministries and branches reported, discussed, assessed the situation and proposed further solutions, concluding the meeting, Prime Minister Pham Minh Chinh assessed that since the global trade had new developments and the United States introduced a reciprocal tariff policy, Vietnam has had timely, flexible, appropriate responses and achieved certain results; showing calmness, proactiveness, and courage in the face of developments, which was positively assessed by the United States.

In particular, on the basis of the Vietnam - US Comprehensive Strategic Partnership, General Secretary To Lam had a phone call with President Trump; appointed Deputy Prime Minister Ho Duc Phoc as the General Secretary's Special Envoy and appointed the Minister of Industry and Trade as the Prime Minister's Special Envoy to meet, negotiate and exchange with the US side.

Party and State leaders also met with the US Ambassador to Vietnam, politicians, influential scientists and US businesses to discuss, listen and analyze the situation.

Vietnam has proactively issued a Government decree to reduce possible tariff lines with the United States; resolve difficulties in a number of projects and issues of concern to the United States within the legal framework and according to the agreement between Vietnam and the United States; increase purchases of goods that Vietnam needs and the United States has strengths in, such as aircraft... to balance bilateral trade.

Prime Minister Pham Minh Chinh emphasized the need to continue negotiations, promote balanced, stable, sustainable and effective trade relations with the United States; strengthen dialogue, avoid tensions; respect each other, equality; harmonize the interests of both sides; especially maintain Vietnam's core interests, in line with the Party's foreign policy, especially Resolution 59 of the Politburo on international integration in the new situation.

The Prime Minister said that Vietnamese goods do not compete with those of the United States, and that bilateral trade relations have always been beneficial to US consumers and have boosted Vietnam's export momentum. Therefore, Vietnam is ready to negotiate according to the US's proposals.

Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee with relevant ministries, sectors and agencies on preparations for negotiations and promoting balanced, stable and sustainable trade relations with the United States. Photo: Nhat Bac

Opportunity to restructure export dynamics

The Prime Minister requested ministries, branches, especially the Negotiation Delegation, to prepare well the contents for negotiations with the US side, on the principle of closely following the instructions of the Politburo, General Secretary To Lam, the Government, and the Prime Minister to promote balanced and sustainable Vietnam-US trade; not to complicate the issue; and not to affect the international agreements that Vietnam has participated in.

The Prime Minister said that the current world trade situation, besides challenges, also has opportunities for Vietnam to restructure export dynamics, restructure enterprises, diversify markets, diversify products, diversify supply chains; improve product quality, reduce costs, enter high-tech products, green development, circular economy, knowledge economy, sharing economy...

The Prime Minister requested ministries, sectors and localities to coordinate and resolve issues of concern to the US; build and perfect institutions and organize implementation to both promote development and manage and protect production, especially regarding the origin of goods, combat smuggling, trade fraud, and counterfeit goods.

Next, attract selective investment, focusing on high-tech fields, in line with Vietnam's development strategy, participating in technology transfer, human resource training, research and development, supporting Vietnamese enterprises to participate in production chains and supply chains of foreign and global enterprises.

Source: https://phunuvietnam.vn/thu-tuong-thuc-day-thuong-mai-viet-nam-hoa-ky-can-bang-ben-vung-20250422124937252.htm