Find comprehensive and comprehensive solutions, do not adjust export targets

Director of the Foreign Market Development Department Ta Hoang Linh informed at the press conference. Photo: CT

Mr. Ta Hoang Linh, Director of the Foreign Market Development Department, said that the 46% tax rate that the US imposed on imported goods from Vietnam is "concerning" in the context of Vietnam's persistent and consistent support for multilateral trade and promoting trade and investment.

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

“The average MFN tariff that Vietnam currently applies to imported goods is 9.4%. Therefore, the reciprocal tariff that the US plans to apply to Vietnamese goods of up to 46% is unfair and does not demonstrate goodwill towards Vietnam's efforts to promote balanced trade. The Ministry of Industry and Trade wishes to continue negotiations so that the two sides can find a common voice," Mr. Linh expressed.

Mr. Linh recommended that domestic enterprises need to diversify export markets, improve product quality, ensure products meet technical, labor and environmental standards; focus on controlling the origin of raw materials for production, ensure compliance with the rules of origin in the FTA and avoid risks related to trade fraud.

Businesses improve their awareness and ability to respond to foreign trade defense measures through updating information and participating in relevant training courses.

With 17 free trade agreements (FTAs) compared to other countries in the region and the world, Vietnam has the largest number of agreements. Thanks to that, in recent years, Vietnam's exports have grown remarkably, reaching a value of nearly 800 billion USD. The Ministry encourages qualified enterprises to take advantage of the US and EU markets, which are markets that require high quality standards with large export shipments.

For small and medium enterprises with little export experience, support and training are needed to grasp market information and goods that can meet technical standards.

The department is currently promoting negotiations to implement free trade agreements between Vietnam and countries in Latin America, South Asia, Eastern Europe, the Middle East, most recently Brazil.

“Vietnam is a responsible trade partner with other countries, ready to cooperate, discuss and reach consensus, resolve shortcomings and difficulties in bilateral relations, and move towards a more harmonious relationship. From now until May 9, the Ministry of Industry and Trade will have discussions with the United States to propose solutions to the problems between the two sides,” Mr. Ta Hoang Linh affirmed.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan chaired the press conference. Photo: CT

Chairing the press conference, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan informed that immediately after the US imposed reciprocal tariffs, Minister of Industry and Trade Nguyen Hong Dien sent a diplomatic note, as well as used various channels to arrange a phone call with his counterpart, the US Trade Representative.

The aim is to better explain policies, import-export management, tax issues...

Regarding the official dispatch sent by the Ministry of Industry and Trade on April 3, Deputy Minister Nguyen Sinh Nhat Tan said that the Ministry is asking the Embassy and the head of the Vietnamese trade office in the US to actively discuss with the US side to provide information.

Next week, a delegation led by Deputy Prime Minister Ho Duc Phoc will visit the United States to meet and discuss. This afternoon, the Government also met and listened to the opinions of export enterprises; recommended that enterprises discuss with import partners, find appropriate solutions, overcome short-term challenges and stabilize in the long term.

“At this time, we need to calmly find a comprehensive and comprehensive solution, not rush to discuss adjusting export targets. The solutions we are looking for are to overcome immediate challenges and find new long-term opportunities,” the Deputy Minister of Industry and Trade affirmed.

As the standing agency of the Working Group on enhancing cooperation and proactively adapting to the economic and trade policy adjustments of the United States, the Ministry of Industry and Trade will be responsible for presiding over and coordinating with the Ministry of Finance, the Ministry of Foreign Affairs and relevant agencies, proactively advising, proposing and recommending to the Government and the Prime Minister measures to flexibly, promptly, appropriately and effectively adapt to the world and regional situation and the policy adjustments of the United States in the coming time.

Source: https://hanoimoi.vn/tim-bien-phap-xu-ly-tong-the-va-toan-dien-chua-dieu-chinh-muc-tieu-xuat-khau-697907.html