Tomorrow, the Ministry of Industry and Trade will present a plan to respond to US counter-tariffs.

The Ministry of Industry and Trade plans to submit to the Prime Minister tomorrow the task groups assigned to ministries and branches to adapt to the US tariff policy.

According to the Ministry of Industry and Trade , since the end of April, Vietnam and the US have held many reciprocal trade negotiation sessions at both technical and ministerial levels.

During the negotiation process, Vietnam and the US 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 (Vietnam time), the White House posted President Donald Trump's Executive Order on adjusting reciprocal tax rates, according to which the US 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%.

The Ministry of Industry and Trade proposes a task force to effectively adapt to the US's reciprocal tax policy. (Graphic: VGP).

At the regular Government meeting on August 7, Minister of Industry and Trade Nguyen Hong Dien said that next week, Vietnam will continue technical negotiations with the US to strengthen the official agreement.

The Ministry also proposed scenarios and task groups for the Government to assign ministries and sectors to implement to adapt to US tax policies. Accordingly, the Ministry proposed the Ministry of Finance and other agencies to assess the impact of tax rates on Vietnam, in order to have solutions and response scenarios.

Localities and relevant ministries should soon complete removing obstacles for projects to free up resources for the economy.

The Ministry of Industry and Trade will develop and implement a plan to implement the trade agreement with the US, including improving the business investment environment, supporting businesses to expand trade, export markets, and increase capacity and domestic consumption. The agency also mentioned solutions on developing projects and policies to develop supporting technologies, and maximizing the exploitation of

The Ministry plans to submit this task plan and response plan to the Prime Minister tomorrow, August 8.

PHAM DUY

Source: https://vtcnews.vn/ngay-mai-bo-cong-thuong-trinh-phuong-an-ung-pho-voi-thue-doi-ung-cua-my-ar958491.html