The US imposes a 46% reciprocal tax: How will Vietnam respond?
Vietnam is implementing many measures to respond to the 46% tax from the US, including reducing import taxes and increasing trade.
Listening to advice from businesses; reducing taxes on a number of groups of goods and industries imported from the US to Vietnam,
reviewing and removing technical barriers; responding to the issue of anti-origin fraud and illegal transshipment; increasing the import
of goods originating from the US... Vietnam has been actively implementing a series of measures to soon find a common voice in resolving
the issue of imposing import taxes on goods.
Timely and proactive intervention
Consecutive days from April 3 to now, many meetings, working sessions, and phone calls have been held by the leaders of our Party and State to
discuss and resolve tariff barriers imposed by the US government, ensuring the harmony of interests for both sides.
Immediately after the US announced its reciprocal tax policy, on the morning of April 3, the Government Standing Committee convened an urgent
meeting to assess the situation and the impact of the US tax policy, and propose solutions to adapt to the situation.
At the same time, Minister of Industry and Trade Nguyen Hong Dien sent a diplomatic note to the US Trade Representative requesting to postpone
the decision to impose the above tax in order to discuss and find a harmonious solution; requesting to arrange a phone call as soon as possible to
discuss and handle this issue.
A Working Group on strengthening cooperation and proactively adapting to the US's economic and trade policy adjustments, headed by Deputy Prime
Minister Bui Thanh Son, was also established by the Prime Minister on the same day.
Working with businesses exporting goods to the US, associations and relevant agencies in the early afternoon of April 4, Deputy Prime Minister Ho Duc
Phoc listened to many valuable suggestions, removed difficulties and obstacles for exporting businesses, promoted the implementation of US projects
in Vietnam; adjusted some taxes on imported goods from the US...
On the evening of April 4, Vietnam time, General Secretary To Lam had a phone call with the Head of the White House.
During the phone call, the General Secretary affirmed that Vietnam is ready to discuss with the US side to reduce import tax to 0% for goods imported from the US,
and at the same time propose that the US apply the same tax rate to goods imported from Vietnam, continue to import more goods from the US that Vietnam
needs and encourage, create favorable conditions for companies from the US to increase investment in Vietnam.
The past two weekends continued with very urgent and continuous working sessions, showing the persistent efforts of the leaders.
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