Prime Minister: Prepare a list of items that need to be negotiated to bring the tax rate to 0%

According to the Government Electronic Newspaper, on the afternoon of April 5, Prime Minister Pham Minh Chinh chaired the second meeting of the Government Standing Committee with ministries and branches to continue assessing the situation and discuss immediate and long-term solutions after the US announced reciprocal tariffs on goods from many countries, including Vietnam.

Prime Minister Pham Minh Chinh. (Photo: VGP)

The Prime Minister said that on the evening of April 4, General Secretary To Lam had a phone call with the US President. In it, the General Secretary sent the message: Vietnam is ready to negotiate with the US to reduce import tax to 0% for goods imported from the US, and at the same time propose that the US apply the same tax rate to goods imported from Vietnam; continue to import more goods from the US that Vietnam needs and encourages; create favorable conditions for companies from the US to further increase investment in Vietnam.

The Prime Minister said that tonight (April 5), Deputy Prime Minister Ho Duc Phoc will leave for the US on a business trip. Therefore, this meeting needs to prepare a list of items that need to be negotiated to bring the tax rate to 0%.

" The general spirit is to be ready to negotiate with you to reduce the tax rate to 0% for goods imported from the US. We also propose that the US impose a similar tax rate. This is the biggest message. Second, the list of purchases is also decided by the Government. We need to be ready so that when comrade Ho Duc Phoc meets and negotiates, he will have a clear basis. Comrade Ho Duc Phoc is responsible for making decisions at the negotiating table with the spirit of being unchanging and adapting to all changes ," the Prime Minister emphasized.

According to delegates attending the meeting, Vietnam demonstrated a calm spirit, resilience, efforts to overcome difficulties, and proactive, timely, flexible, appropriate, and effective responses.

Notably, on the evening of April 4, General Secretary To Lam had a very successful phone call with US President Donald Trump. The Government also proactively reported and proposed many contents, which were approved by the Politburo.

Up to now, Vietnam has basically resolved the issues of concern of the US side, especially proactively reducing taxes according to Decree 73 of the Government amending and supplementing preferential import tax rates.

Concluding the meeting, the Prime Minister stated that Vietnam and the US have become Comprehensive Strategic Partners, and economic and trade relations are promoted on the basis of two complementary and supportive economies, not competing or eliminating each other.

The US remains Vietnam’s largest export market, while Vietnam is among the US’s largest trading partners and the largest trading partner in the ASEAN region. Vietnam’s trade surplus with the US is large but beneficial for both sides.

However, the Prime Minister said that the US's imposition of reciprocal tariffs as announced will affect Vietnam's exports, Vietnam's indirect markets and even affect US consumers.

Faced with this reality, the Prime Minister emphasized that the approach to and handling of the problem must be comprehensive, both immediate and long-term, both direct and indirect, both general and specific, both broad and focused, both non-tariff and tariff...

The Prime Minister also noted that it is necessary to take into account the overall foreign economic relations of Vietnam; synchronously use political, diplomatic, economic, investment, and trade measures; win over domestic and foreign enterprises, US enterprises, and FDI enterprises in Vietnam; and have appropriate negotiation solutions.

The head of the Government assigned the Ministry of Industry and Trade to preside over, under the direction of Deputy Prime Minister Bui Thanh Son, Minister Nguyen Hong Dien to continue to carefully study US policy.

The overall, strategic goal is to stabilize the country, maintain a peaceful, stable, cooperative and developing environment; stability for development, development for stability; people must be prosperous, happy, free to do business, and have their legitimate and legal rights and interests guaranteed.

" The GDP growth target of 8% or more in 2025 and double digits in the coming years remains unchanged to achieve the two set 100-year goals ," the Prime Minister emphasized.

Directing a number of specific solutions, the Prime Minister requested initiatives to develop balanced and sustainable trade relations between Vietnam and the US, for the benefit of the two countries and peoples; continuing to address the concerns of the US side in the spirit of mutual benefit, harmonious interests, and shared risks.

The Ministry of Finance was assigned to immediately continue reviewing taxes and expanding policies in Decree 73 in line with the high-level agreement between General Secretary To Lam and President Donald Trump during the phone call on April 4.

The Ministry of Industry and Trade shall preside over and review to increase imports from the US of goods that Vietnam has demand for and is profitable to import, while promoting negotiations to upgrade the Vietnam-US Bilateral Trade Agreement.

The Ministry of Foreign Affairs was asked to actively arrange for the Vietnamese negotiation delegation to meet with important contacts of the US side; the Ministry of Foreign Affairs and the Ministry of Industry and Trade continued to communicate so that the US side could temporarily suspend the imposition of tariffs while waiting for negotiations.

The Prime Minister noted that in negotiations with the US, it is necessary to pay attention to avoid affecting relations with other partners.

The Prime Minister directed to continue implementing solutions on taxes, fees and charges to support businesses, encourage production, business and domestic consumption; affirm the viewpoint of always accompanying, supporting and standing side by side with people, businesses and investors in difficult times; and coordinate synchronously, closely and effectively between monetary policy and fiscal policy.

The Ministry of Finance focuses on digitalization in tax collection, actively collects taxes using invoices generated by cash registers; effectively controls the origin of goods, trademarks, copyrights, and intellectual property.

In the long term, the Prime Minister stated that it is necessary to promote economic restructuring towards rapid, sustainable development, greening, digitalization, creative economy, knowledge economy, and circular economy; restructure markets, products, and supply chains towards greater diversification, not depending on one market, and exploiting potential new markets such as the Middle East, Central Asia, etc.

According to the Prime Minister, the US's application of new tariff policies is also pressure for innovation, an opportunity for businesses and our country to rise up, break through and develop.

Emphasizing that it is very important to have solutions to support people and businesses in difficult times, the head of the Government requested the Ministry of Finance to prepare a plan to support businesses in difficult situations.

English

Source: https://vtcnews.vn/thu-tuong-chuan-bi-danh-sach-cac-mat-hang-can-dam-phan-de-dua-thue-suat-bang-0-ar935976.html