AmCham in Vietnam: Transition period needed for new US reciprocal tariffs

Factory producing components for Boeing 787 aircraft in Da Nang - Photo: THU AN

On April 4, AmCham Vietnam in Ho Chi Minh City - the association representing the voice of the American business community in Vietnam, with more than 550 business members and 2,500 individuals - expressed its views on President Trump's new tax policy.

According to AmCham, the association was established to promote trade and investment between the US and Vietnam through fair trade policies, to improve productivity and create stability.

Mr. Mark Gillin, Chairman of AmCham Vietnam

However, according to Mr. Mark Gillin - Chairman of AmCham Vietnam, the US Government's decision to announce a 46% reciprocal tax rate on April 2, applied on a large scale and taking effect almost immediately, is completely contrary to these goals.

The sudden imposition of large-scale tariffs has caused significant uncertainty and risks disrupting the operations of US businesses in Vietnam.

Therefore, Amcham has called on the US Government to consider applying a transition period instead of "immediately".

This period will allow businesses on both sides to adapt to the new regulations, minimizing unnecessary disruptions and financial losses, and avoiding unnecessary negative impacts.

"The almost immediate imposition of new tariffs does not allow businesses to adjust their business plans that were built on previous agreements," said Mark Gillin.

One of the goals of the United States in applying reciprocal tariffs is to create more fairness in the tariffs each country applies to the other's goods.

AmCham expressed support for reducing import duties on US goods in Vietnam as a solution to address this imbalance and help reduce reciprocal duties significantly.

AmCham representatives expressed hope that both countries can agree to adjust tariffs to a level that is considered equal, so that they can continue to maintain a trade relationship that benefits all parties involved.

"AmCham members need certainty and stability to operate effectively. We call on the two governments to quickly negotiate to reduce this tariff to the lowest possible level. AmCham is ready to contribute ideas and facilitate dialogue between the US and Vietnamese governments to improve trade relations," affirmed Mr. Mark Gillin.

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Source: https://tuoitre.vn/amcham-tai-viet-nam-can-co-giai-doan-chuyen-tieu-cho-muc-thue-doi-ung-moi-cua-my-20250404124752899.htm