Information from the Ministry of Industry and Trade said that in the early morning of August 1 (Vietnam time), the White House posted the Decree of US President Donald Trump on adjusting the reciprocal tax rate.
The US has decided to adjust the reciprocal tax rates for 69 countries and territories listed in Annex I. According to this Annex, the reciprocal tax rate for Vietnam is reduced 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 management agency also affirmed that the two sides will strive to promote stable economic , trade and investment relations, harmonizing interests, commensurate with the Vietnam - US Comprehensive Strategic Partnership.
Previously, since the end of April, Vietnam and the US have held many reciprocal trade negotiation sessions at both technical and ministerial levels.
The Vietnamese Government's negotiation delegation is led by Minister of Industry and Trade Nguyen Hong Dien, with members including leaders and officials from the following ministries and agencies: Industry and Trade, Foreign Affairs, Public Security, Finance, Justice, Agriculture and Environment, Science and Technology, Home Affairs, Construction, Health, State Bank and the Vietnamese Embassy in the US.
Since April, Vietnam and the US have held many reciprocal trade negotiation sessions at both technical and ministerial levels (Photo: Moit).
Many direct and online negotiation sessions took place between Minister of Industry and Trade Nguyen Hong Dien, Chief of the Office of the United States Trade Representative (USTR) Jamieson Greer and US Secretary of Commerce Howard Lutnick.
The Ministry of Industry and Trade said that during the negotiation process, Vietnam and the US focused on discussing and achieved many advances in 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.
According to US Customs data, in 2024, two-way trade between Vietnam and the US will reach 149.7 billion USD, of which Vietnam will export 136.6 billion USD and import 13.1 billion USD. Vietnam's trade surplus with the US is 123.5 billion USD, ranking 3rd among countries with the largest trade surplus with the US (after China and Mexico).
In the first 5 months of the year, two-way trade between Vietnam and the US reached 77.4 billion USD, up 36.5% over the same period in 2024, of which Vietnam exported 71.7 billion USD (up 37.3% over the same period in 2024) and imported 5.7 billion USD (up 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).
Source: https://dantri.com.vn/kinh-doanh/thong-tin-chinh-thuc-ve-muc-thue-doi-ung-cua-my-voi-viet-nam-20-20250801164309447.htm
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