Proposed task force to effectively adapt to US tariff policy

(Chinhphu.vn) - According to the Minister of Industry and Trade, the 20% reciprocal tax rate that the United States imposes on Vietnamese goods will officially take effect from 12:00 on August 7, Washington DC time, which means it will take effect in Vietnam in about a day. The Ministry of Industry and Trade has promptly submitted to the Prime Minister a task force assigned to ministries and branches to effectively adapt to this tariff policy.

Vietnam and the United States will strive to promote stable economic , trade and investment relations and harmonize interests.

Successful negotiations, bringing the tax rate down to 20%

Since late April 2025, Vietnam and the United States have held many reciprocal trade negotiation sessions at both technical and ministerial levels.

During the negotiation process, Vietnam and the United States focused on discussing and making progress on issues such as tariffs, rules of origin, customs, agriculture , non-tariff measures, digital trade, services and investment, intellectual property, sustainable development, supply chains, trade cooperation, etc.

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

This is considered a positive signal affirming Vietnam's negotiating position as it is only behind a few countries in reaching a significant tax reduction agreement with the United States.

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.

Suggest task groups

At the regular Government meeting in July, held on the morning of August 7, Minister of Industry and Trade Nguyen Hong Dien said that, in response to the above negotiation results, the Ministry of Industry and Trade promptly submitted to the Prime Minister a group of tasks assigned to ministries and branches to effectively adapt to this tariff policy.

One is to continue technical negotiations to strengthen the formal agreement. This will be implemented next week.

Second, the Ministry of Finance coordinates with relevant ministries and branches to assess the impact of tax rates on Vietnam to propose tasks, solutions, mechanisms and policies to effectively respond to this policy.

Third, request relevant provinces, ministries and branches to urgently complete the removal of obstacles for projects renovated according to the plan.

Third, assign the Ministry of Industry and Trade to develop and implement a plan to implement the Trade Agreement with the United States. This includes improving the investment and business environment in Vietnam; supporting domestic enterprises to expand trade growth and export markets; enhancing the capacity and consumption ability of the Vietnamese economy and enterprises; developing projects and policies to develop supporting technologies; maximizing local resources; and promoting the production of products enjoying a 0% tax rate.

All of these are being implemented and expected to be submitted to the Government today, August 7, and tomorrow to get comments from ministries, branches and agencies.

Fourth, assign the Ministry of Industry and Trade to coordinate with the Central Propaganda Department, the Central Organizing Committee, the Ministry of Public Security, the Ministry of Culture, Sports and Tourism and relevant agencies to urgently develop and implement propaganda work and provide good orientation for public opinion on Vietnam - US relations.

Fifth, relevant ministries and sectors proactively direct media agencies to only report honestly and objectively on the results of trade negotiations and handle violations according to regulations in cases of false reporting that negatively affects the psychology of people, businesses and investors.

Sixth, relevant ministries, branches and localities coordinate with the Ministry of Industry and Trade in developing a plan to implement the Trade Agreement with the United States; proactively find out any problems arising during the implementation process and promptly report to competent authorities for resolution.

Vinh Hoang

Source: https://baochinhphu.vn/de-xuat-nhom-nhiem-vu-de-thich-ung-hieu-qua-voi-chinh-sach-thue-quan-cua-hoa-ky-102250807123640128.htm