"Continue diplomacy to get the US to suspend tariffs pending negotiations"

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 US announced reciprocal tariffs on goods from many countries, including Vietnam.

Vietnam-US economic relations are complementary, not competitive.

According to delegates attending the meeting, 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, which were approved by 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 of the Government amending and supplementing preferential import tax rates.

Meeting of the Government Standing Committee on the afternoon of April 5 (Photo: Doan Bac).

According to the head of the Government, Vietnam and the US have become Comprehensive Strategic Partners, with economic and trade relations promoted on the basis of two complementary and supportive economies, not competing or eliminating each other.

The US remains Vietnam’s largest export market, while Vietnam is among the US’s largest trading partners and the largest trading partner in the ASEAN region. Vietnam’s trade surplus with the US is large but beneficial for both sides.

However, the Prime Minister said that if the US imposes reciprocal tariffs as announced, it will affect Vietnam's exports, Vietnam's indirect markets and even affect US consumers.

Faced with this reality, the Prime Minister emphasized that the approach to 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...

The solutions, according to the Prime Minister, also need to take into account the overall foreign economic relations of Vietnam; synchronously use political, diplomatic, economic, investment, and trade measures; win over domestic and foreign enterprises, US enterprises, and FDI enterprises in Vietnam as well as have appropriate negotiation solutions.

Arrange for Vietnam to negotiate with important contacts from the US side

Prime Minister Pham Minh Chinh directed the Ministry of Industry and Trade to continue to carefully study US policies.

The overall and strategic goal emphasized by the Government leaders is to stabilize the country and maintain a peaceful, stable, cooperative and developing environment.

Once again, the head of the Government affirmed that the GDP growth target of 8% or more in 2025 and double digits in the coming years remains unchanged.

Prime Minister Pham Minh Chinh delivered a concluding speech at the meeting (Photo: Doan Bac).

Directing a number of specific solutions, the Prime Minister requested initiatives to develop balanced and sustainable trade relations between Vietnam and the US, for the benefit of the two countries and peoples; continuing to address the concerns of the US side in the spirit of mutual benefit, harmonious interests, and shared risks.

The Ministry of Finance was assigned to immediately continue reviewing taxes and expanding 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 shall preside over and review to increase imports from the US of goods that Vietnam has demand for and is profitable to import, while promoting negotiations to upgrade the Vietnam-US Bilateral Trade Agreement.

The Prime Minister directed the Ministry of Foreign Affairs to actively arrange for the Vietnamese negotiation delegation to meet important contacts of the US side.

At the request of the Government leaders, the Ministry of Foreign Affairs and the Ministry of Industry and Trade continue to negotiate with the US to temporarily suspend the imposition of tariffs while awaiting negotiations. The Prime Minister noted that in negotiations with the US, care must be taken 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.

He affirmed to always accompany, support and stand side by side with people, businesses and investors in difficult times.

Deputy Prime Minister Ho Duc Phoc reported at the meeting. On the night of April 5, he will leave for the US (Photo: Doan Bac).

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, exploiting potential new markets such as the Middle East, Central Asia, etc.

According to the Prime Minister, the US's application of new tariff policies is also a pressure for innovation, an opportunity for businesses and our country to rise up, break through and develop.

Emphasizing the importance of having solutions to support people and businesses in difficult times, the Prime Minister requested the Ministry of Finance to prepare a plan to support businesses in difficult situations.

Dantri.com.vn

Source: https://dantri.com.vn/xa-hoi/tiep-tuc-ngoai-giao-de-my-tam-hoan-ap-thue-trong-luc-cho-dam-phan-20250405163436728.htm