Deputy Prime Minister Ho Duc Phoc stated that the Vietnamese government requested the US side to consider temporarily suspending the imposition of tariffs for 1-3 months to allow for negotiations, aiming to ensure fairness in taxation.
On the afternoon of April 4th, Deputy Prime Minister Ho Duc Phoc chaired a meeting with businesses exporting goods to the United States, relevant associations and agencies, to listen to suggestions and discuss solutions regarding the US government 's reciprocal tariff policy.
Concerns over US tariffs
At the meeting, representatives from industry associations in wood, seafood, pepper, electronics, footwear, steel, textiles, plastics, etc., expressed concern about the US imposition of tariffs on goods from Vietnam. They argued that the agricultural, forestry, fisheries, and footwear products that Vietnam exports to the US not only meet increasingly high standards and have a comparative advantage, but also support the US economy and benefit US consumers.
Exporting goods from Vietnam to the United States is a win-win situation for both sides.
The opinions expressed confirmed their readiness to increase imports of products from the United States; they provided evidence to prove origin and capacity, to support the negotiation process.
The US market is a crucial, leading market; we must secure its preservation at all costs.
Stating that Vietnam is a global hub for Samsung Group, a representative from Samsung Vietnam suggested that during negotiations, the government should emphasize Vietnam's important role in the global supply chain.
Imposing a uniform 46% tariff on goods originating from Vietnam not only affects global supply chains but also creates a burden for US consumers and businesses...
Mr. Dinh Viet Phuong, General Director of Vietjet (SOVICO Group), said that in 2025, they will receive 10 Boeing aircraft worth $1.8 billion; the total value of contracts from the US this year is approximately $2.2 billion... The cooperation between Vietjet and SOVICO with the US is strategic and long-term.
The CEO of Vietjet thanked the Government for its great attention and support to the company in its cooperation with the US market in the past, and also made suggestions to ensure that the upcoming negotiations yield positive results.
Mr. Dinh Viet Phuong proposed many specific and practical contents, both short-term and long-term, for the Vietnamese Government to negotiate with the US Government, especially those related to product flows, industries, and the timing of tariff imposition; he also suggested measures to reduce the trade deficit between the two countries. Representatives of associations and businesses pledged to continue actively cooperating to address future challenges. They also expressed confidence that with the efforts, goodwill, and active involvement of the Vietnamese Government, the negotiations would yield positive results, further contributing to the promotion of economic and trade relations between the two countries.
Balancing trade between the two countries.
Representatives from the American Chamber of Commerce in Vietnam (AmCham) and the US-ASEAN Business Council highly appreciated Vietnam's timely and harmonious response to the US tariffs, highlighting Vietnam's advantages and areas for focused discussion and negotiation to remove barriers and challenges, and to appropriately and effectively address the issues raised by the US so that both economies can develop together.
Virginia Foote, Vice President of AmCham Hanoi, believes that Vietnam should buy more goods from the United States and needs strong commitments.
Some US businesses are keen for Vietnam to finalize contracts in energy projects, liquefied natural gas (LNG), aircraft, and other areas, thereby balancing bilateral trade.
US companies have found that Vietnamese consumers are willing to buy their goods, so US businesses will look for ways to bring their products into Vietnam.
One important point raised by Virginia Foote is that Vietnam needs to demonstrate to the United States its efforts in combating transshipment of goods and thoroughly address allegations and rumors that are unfavorable to Vietnam.
“The relationship between our two countries has come a very long way, with many achievements and close ties at the political, people-to-people, and educational levels… Our relationship is being damaged by these barriers, so we are very keen to work with the Vietnamese Government to devise measures to reduce these obstacles and challenges, so that both economies can develop strongly together,” said Virginia Foote.
At the meeting, leaders from the Ministry of Agriculture and Environment, the Ministry of Industry and Trade, the Ministry of Science and Technology, the Ministry of Finance, and the State Bank of Vietnam affirmed that Vietnam will continue dialogue and review to consider and remove technical barriers and adjust tariffs on various product groups and industries. They expressed their desire to import scientific and technological products, high-tech goods, and products in which the United States has strengths, in order to promote bilateral trade cooperation.
Representatives from various ministries and agencies requested that the American Chamber of Commerce in Vietnam and the US-ASEAN Business Council petition the administration of President Donald Trump to strengthen dialogue and temporarily postpone the imposition of new tariffs (for about 2-3 months) while both sides conduct negotiations and find common ground.
Deputy Minister of Finance Le Tan Can outlined four main solutions related to monetary policy, fiscal policy, trade in goods, and strengthening dialogue and promoting cooperation with the United States.
He suggested that scenarios for bilateral dialogue should be prepared; including studying negotiation options that involve postponing the tariff imposition to allow time for thorough review of the taxed goods, analyzing each item for negotiation, and ensuring a harmonious, reasonable, and mutually beneficial outcome.
Deputy Minister Le Tan Can said that the Ministry of Finance has conducted a comprehensive review of the taxes currently applied with other countries, especially strategic partners and comprehensive strategic partners, including the United States.
To address the issue of origin fraud and illegal transshipment, the Ministry has directed the Customs Department to strengthen management of import and export activities; improve awareness and the effectiveness of enforcing legal regulations on trade defense, origin, customs, and combating evasion of trade defense measures...
Temporarily suspend tariffs to allow for negotiations.
Expressing his surprise at the US imposing a 46% import tariff on Vietnamese goods on April 2nd, Deputy Prime Minister Ho Duc Phoc affirmed that Vietnam has always been proactive, open-minded, and strongly coordinated with the US to negotiate tariffs fairly, combat the issue of transshipment of goods, and promote bilateral trade in a mutually beneficial way. On March 31st, the Vietnamese government issued Decree 73/2025/ND-CP, which reduces 23 import tariff lines from the US to Vietnam, with many lines having a 0% tariff rate.
In addition, Vietnam has been promoting contracts to purchase goods from the US (aircraft, LNG, etc.); creating favorable conditions for US businesses to invest, produce, and operate in Vietnam.
In the coming period, the Vietnamese government will continue to promote measures to increase the purchase of raw materials and equipment from the United States.
According to the Deputy Prime Minister, Vietnamese and US goods do not compete with each other but complement each other. Vietnam is committed to avoiding trade fraud and not allowing other countries to use Vietnam as a transit point; fulfilling international commitments, without negatively impacting Vietnamese businesses and the economy, US consumption, the Comprehensive Strategic Partnership, and global value chains.
Affirming the goodwill to negotiate in order to quickly find common ground, Deputy Prime Minister Ho Duc Phoc stated that the Vietnamese Government proposed that the US side consider temporarily suspending the imposition of tariffs for 1-3 months to allow for negotiations, aiming to ensure fairness in taxation.
Vietnam will also implement solutions to increase imports of goods originating from the United States; and hopes to strengthen cooperation with the United States in the fields of science and technology development, digital transformation, etc.
The Deputy Prime Minister urged Vietnamese businesses exporting to the US market to maintain current prices while awaiting the outcome of negotiations; and to proactively implement appropriate and effective solutions to "secure this market".
The government will discuss and find solutions to help businesses alleviate their difficulties.
The Deputy Prime Minister also requested the American Chamber of Commerce in Vietnam and the US-ASEAN Business Council to convey a message of goodwill from the Vietnamese Government and business community to the administration of President Donald Trump so that the negotiations would be effective and yield positive results, contributing to the promotion of the comprehensive strategic partnership between the two countries.
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