The Ministry of Industry and Trade provides additional information on the process of negotiating reciprocal taxes with the United States.

(Chinhphu.vn) - On the afternoon of October 8, at the regular press conference for the third quarter of 2025 of the Ministry of Industry and Trade, Deputy Minister Nguyen Sinh Nhat Tan informed the press about the progress of reciprocal tax negotiations with the United States.

Deputy Minister Nguyen Sinh Nhat Tan (center) informed at the press conference - Photo: Industry and Trade Newspaper

Deputy Minister Nguyen Sinh Nhat Tan said that in recent times, Vietnam has been making efforts to promote reciprocal tax negotiations with the United States. Negotiation delegations between Vietnam and the United States regularly and continuously hold negotiations. Up to now, the United States has had many positive assessments of the results of reciprocal trade tax negotiations between the two countries. This is a very positive result.

In addition, the Deputy Minister of Industry and Trade said that it is expected that in October and November 2025, the Vietnamese negotiating delegation will continue to visit the United States to discuss and implement the next steps, aiming to complete the reciprocal trade agreement on the principles of openness, construction, equality, respect for independence, autonomy, political institutions, mutual benefit and consideration of each other's development level. The two sides will strive to promote stable economic, trade and investment relations, harmonizing interests, commensurate with the Vietnam - US Comprehensive Strategic Partnership.

Previously, in the early morning of August 1, 2025 (Vietnam time), the White House posted President Donald Trump's Decree on adjusting the reciprocal tax rate, according to which the United States decided to adjust the reciprocal tax rate for 69 countries and territories listed in Appendix I. According to this Appendix, the reciprocal tax rate for Vietnam decreased from 46% to 20%.

Import and export continue to be a bright spot

Regarding Vietnam's import-export situation in the first 9 months of 2025, Mr. Bui Huy Son, Director of the Department of Financial Planning and Enterprise Management, Ministry of Industry and Trade, said that import-export continues to be a bright spot of the economy when the total import-export turnover in the first 9 months reached 680.6 billion USD, up 17.3% over the same period last year.

Of which, exports in the third quarter of 2025 reached 128.57 billion USD, up 18.4% over the same period last year and up 9.6% over the second quarter of 2025. In the first 9 months, the total export turnover of goods reached 348.74 billion USD, up 16.0% over the same period last year, far exceeding the 12% growth target set for the whole year.

In the first 9 months, there were 32 items with export turnover of over 1 billion USD, accounting for 93.1% of total export turnover (there were 7 items with export turnover of over 10 billion USD, accounting for 67.9%).

In terms of export market structure, the United States is still our country's largest export market (reaching 112.8 billion USD, up 27.7%); followed by China (reaching 49.6 billion USD, up 11.3%); EU (reaching 41.7 billion USD, up 9.3%); ASEAN (reaching 28.5 billion USD, up 2.9%) and Japan (reaching 19.7 billion USD, up 9%).

On the other hand, imports in the third quarter of 2025 reached 119.66 billion USD, up 20.2% over the same period last year and up 6.3% over the second quarter of 2025. In the first 9 months, the total import turnover reached nearly 332 billion USD, up 18.8%. Of which, the domestic economic sector reached 105.67 billion USD, up 4.6%; the foreign-invested sector reached 226.25 billion USD, up 26.8%.

The import growth rate (18.8%) higher than export (16%) shows a positive signal of domestic production recovery but also puts some pressure on the trade balance.

The trade balance continued to maintain a surplus of 16.8 billion USD, making an important contribution to the macro balance and foreign exchange reserves of the economy. Of which, the domestic economic sector had a trade deficit of 20.26 billion USD; the foreign-invested sector (including crude oil) had a trade surplus of 37.08 billion USD. It is expected that the total import-export turnover of goods for the whole year may reach a new milestone of about 900 billion USD.

Anh Tho

Source: https://baochinhphu.vn/bo-cong-thuong-thong-tin-them-ve-qua-trinh-dam-phan-thue-doi-ung-voi-hoa-ky-10225100818201242.htm