Continue to negotiate for the US side to temporarily suspend the imposition of tariffs in...

On the afternoon of April 5, Prime Minister Pham Minh Chinh chaired the second meeting of the Government Standing Committee with ministries and branches to continue assessing the situation and discuss immediate and long-term solutions after the United States announced reciprocal tariffs on goods from many countries, including Vietnam.

According to the Government Electronic Information Portal, in his concluding remarks, Prime Minister Pham Minh Chinh emphasized the spirit of proactive, flexible, timely and effective response to the external situation; the more difficult the situation, the more we must remain calm, courageous, steadfast, confident, turn difficulties and challenges into opportunities, make efforts, the more pressure we have, the more motivated we are to rise up, assert ourselves, and overcome our own limits.

Delegates attending the meeting unanimously assessed that when the incident occurred, Vietnam demonstrated a calm spirit, resilience, efforts to overcome difficulties, and proactive, timely, flexible, appropriate, and effective responses. Notably, on the evening of April 4, General Secretary To Lam had a very successful phone call with US President Donald Trump. The Government also proactively reported and proposed many contents and received approval from the Politburo. Up to now, Vietnam has basically resolved the issues of concern of the US side, especially proactively reducing taxes according to Decree 73/2025/ND-CP amending and supplementing preferential import tax rates.

The Prime Minister emphasized that Vietnam and the United States have become Comprehensive Strategic Partners, with economic and trade relations promoted on the basis of two economies that complement and support each other, rather than compete or eliminate each other. The United States remains Vietnam's largest export market; while Vietnam is among the largest trade partners of the United States, and is also the largest trade partner in the ASEAN region; Vietnam's trade surplus with the United States is large, but beneficial to both sides.

If the US imposes reciprocal tariffs as announced, it will affect Vietnam's exports, Vietnam's indirect markets and US consumers.

Prime Minister Pham Minh Chinh chaired the meeting (Photo: VGP)

The Prime Minister emphasized that there are always difficulties, especially in this term, every year the country has encountered objective shocks from the outside, the first year was affected by the COVID-19 pandemic, in 2022 was the conflict in Europe, in 2023 was the disruption of the supply chain, in 2024 was super typhoon Yagi. While Vietnam is a developing country, the economy is in transition, a small impact from the outside can also have a big impact on the inside, therefore, we must firmly grasp the situation, maintain our mettle, be clear-headed, creative, clever, and flexible in operation and management, but be steadfast and persistent in the basic principles to protect independence and sovereignty, build an independent and self-reliant economy associated with proactive, active international integration, deeply, substantially, and effectively.

The Prime Minister emphasized that the approach and handling of the problem must be comprehensive, both immediate and long-term, both direct and indirect, both general and specific, both broad and focused, both non-tariff and tariff...; taking into account the overall external economic relations of Vietnam; synchronously using political, diplomatic, economic, investment, and trade measures, winning over domestic and foreign enterprises, US enterprises, and FDI enterprises in Vietnam; and having appropriate negotiation solutions.

The Prime Minister directed the Ministry of Industry and Trade to preside over, under the direction of Deputy Prime Minister Bui Thanh Son, and Minister Nguyen Hong Dien to continue to carefully study US policy.

The Prime Minister stated that the overall and strategic goal is to stabilize the country, maintain a peaceful, stable, cooperative and developing environment; stability for development, development for stability; people must be prosperous, happy, free to do business, and have their legitimate and legal rights and interests guaranteed. The GDP growth target of 8% or more in 2025 and 2 digits in the coming years remains unchanged to achieve the 2 set 100-year goals.

Directing a number of specific solutions, the Prime Minister requested to continue to strongly and effectively implement Resolution No. 59-NQ/TW, dated January 24, 2025 of the Politburo on international integration in the new situation; the Politburo's conclusions related to the world situation and the article "Striving in international integration" by General Secretary To Lam.

Along with that, continue to have initiatives to develop balanced and sustainable trade relations between the two countries, for the benefit of both countries and their peoples; continue to address the concerns of the US side in the spirit of mutual benefit, harmonious interests, and shared risks.

The Ministry of Finance continues to review taxes and expand policies in Decree 73 in line with the high-level agreement between General Secretary To Lam and President Donald Trump during the phone call on April 4. The Ministry of Industry and Trade presides over the review to increase imports from the United States of goods that Vietnam has demand for and is profitable to import. Promote negotiations to upgrade the Vietnam-US Bilateral Trade Agreement.

The Prime Minister directed the Ministry of Foreign Affairs to actively arrange for the Vietnamese negotiating delegation to meet with important contacts of the US side; the Ministry of Foreign Affairs and the Ministry of Industry and Trade to continue to communicate so that the US side can temporarily suspend the imposition of tariffs while waiting for negotiations. The Prime Minister noted that in negotiations with the US, it is necessary to pay attention to avoid affecting relations with other partners.

Along with that, the Prime Minister requested to continue implementing solutions on taxes, fees, and charges to support businesses, encourage domestic production, business and consumption, affirming the viewpoint of always accompanying, supporting, and standing side by side with people, businesses, and investors in difficult times. Coordinate synchronously, closely, and effectively between monetary policy and fiscal policy. The Ministry of Finance focuses on digitalization in tax collection, actively collecting taxes by invoices generated by cash registers. Control well the origin of goods, trademarks, copyrights, and intellectual property.

In the long term, the Prime Minister stated that it is necessary to promote economic restructuring towards rapid, sustainable development, greening, digitalization, creative economy, knowledge economy, and circular economy; restructure markets, products, and supply chains towards greater diversification, not depending on one market, and exploiting potential new markets such as the Middle East, Central Asia, etc.

The Prime Minister once again affirmed that this is also a pressure for innovation, an opportunity for businesses and our country to rise up, break through and rise up; the very important issue is to have solutions to support people and businesses in difficult times. The Prime Minister requested the Ministry of Finance to have a plan to prepare to support businesses in difficult situations.

Source: https://baodaknong.vn/tiep-tuc-giao-thiep-de-phia-hoa-ky-tam-hoan-ap-thue-trong-luc-cho-dam-phan-248465.html