The government asked three ministries to present solutions to deal with US taxes before August 13.

The Government has just issued Resolution No. 230 on the regular Government meeting in July and the Government's online conference with localities.

The Government asked 3 Ministries to come up with solutions to respond to US taxes. (Illustration photo)

In the resolution, the Government assigned the Ministry of Finance to preside over and coordinate with the Ministry of Industry and Trade, the State Bank and relevant agencies to develop and submit to the Government for promulgation a Resolution on comprehensive solutions to respond promptly and effectively to the US tariff policy (to be completed before August 13).

The Government requested the Ministry of Industry and Trade to preside over and coordinate with agencies and localities to continue to proactively and actively coordinate with relevant agencies to implement trade negotiation plans with the US.

The Ministry of Industry and Trade urgently completes and submits to the Government before August 17 for consideration and promulgation of the Decree on strategic trade control.

The Ministry of Industry and Trade also has the task of closely coordinating with the Ministries of Finance, Health, Public Security, National Defense, agencies and localities to develop plans and regularly, continuously and effectively implement the fight against smuggling, trade fraud, counterfeit goods, fake goods, poor quality goods, and intellectual property violations, especially for dairy products, medicines, food, etc.

Earlier, in the early morning of August 1 (Vietnam time), the White House posted President Donald Trump's Decree on adjusting the reciprocal tax rate, according to which the US 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%.

The Ministry of Industry and Trade said that in the coming time, the two sides will continue to discuss and implement the next steps towards completing the reciprocal trade agreement based on the principles of openness, constructiveness, equality, respect for independence, autonomy, political institutions, mutual benefit and consideration of each other's development level. The two sides will also strive to promote stable economic, trade and investment relations, harmonizing interests, commensurate with the Vietnam - US Comprehensive Strategic Partnership.

According to US Customs data, in 2024, bilateral trade between Vietnam and the US reached $149.7 billion, with Vietnam exporting $136.6 billion and importing $13.1 billion. Vietnam's trade surplus with the US was $123.5 billion, ranking third among countries with the largest trade surpluses with the US (after China and Mexico).

In the first 5 months of 2025, two-way trade between Vietnam and the US reached 77.4 billion USD, an increase of 36.5% over the same period in 2024, of which Vietnam exported 71.7 billion USD (an increase of 37.3% over the same period in 2024) and imported 5.7 billion USD (an increase of 30.7% over the same period in 2024).

Vietnam's trade surplus with the US is 64.8 billion USD (up 29% over the same period in 2024), ranking 4th among countries with the largest trade surplus with the US (after China, Mexico and Iceland).

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Source: https://vtcnews.vn/chinh-phu-yeu-cau-3-bo-trinh-giai-phap-ung-pho-voi-thue-cua-my-truoc-13-8-ar959301.html