AmCham: Tariff suspension is an opportunity for Vietnam and the US to adjust trade strategy

Immediately after the Trump administration announced a 90-day suspension of new tariffs targeting many countries, including Vietnam, the American business community in Vietnam spoke out.

US business delegation visits Vietnam to promote goods in the Vietnamese market - Photo: N.BINH

On April 10, sharing with the press, the American Chamber of Commerce in Vietnam (AmCham) said it had actively lobbied for this delay, considering it a necessary step to create conditions for American and Vietnamese businesses to have time to prepare and adapt to the expected new tax rates.

This is also an opportunity to create room for the two governments to continue negotiating and building a sustainable trade framework that meets bilateral interests.

American businesses see this as a tactical step back. The delay is seen as a “necessary buffer” that will allow businesses from both countries to adjust their supply chains, while also creating conditions for a more fair, balanced, and long-term trade roadmap.

Page 1 of Tuoi Tre newspaper on February 9, 2025 about the US-China trade war

According to AmCham, Vietnam’s proactive goodwill dialogue with the US, including its commitment to reducing tariff and non-tariff barriers to narrow the US trade deficit, is the right direction. Vietnamese policymakers are highly appreciated for their patience and practicality in this process.

But AmCham is not shying away from the fact that challenges lie ahead. The 10% tariff is still pending — not to mention the 25% tariffs on steel and aluminum that have already taken effect.

The fact that the US administration calls this a “temporary pause,” not an end, is a reminder that the tariff policy is still on the negotiating table, and that the parties involved need to make the most of this time to resolve the real trade bottlenecks.

During this temporary suspension, AmCham expects to work closely with the Vietnamese Government and the business community to identify and remove real and reasonable trade barriers.

With more than 550 businesses and 2,000 individual members, AmCham is one of the largest business associations in Vietnam, serving as the voice of American businesses in Vietnam. "We are committed to working with all stakeholders to build a freer, fairer, more efficient and predictable trading environment," AmCham said in a statement.

Previously, right after President Donald Trump announced the 46% reciprocal tax rate for Vietnam on April 2, AmCham Vietnam 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.

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Source: https://tuoitre.vn/amcham-tam-hoan-ap-thue-la-co-hoi-viet-my-dieu-chien-luoc-thuong-mai-20250410100945536.htm