Prime Minister: Establish a rapid response team on the US imposing a 46% reciprocal tax

On the morning of April 3, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee with ministries and branches to assess the situation and discuss solutions after the US announced reciprocal tariffs on goods from many countries, including Vietnam.

The meeting on US counter-tariff response was attended by Permanent Deputy Prime Minister Nguyen Hoa Binh , Deputy Prime Minister Ho Duc Phoc, Deputy Prime Minister Nguyen Chi Dung; Ministers of Finance, Industry and Trade, Agriculture and Environment, Science and Technology, State Bank...

The Prime Minister emphasized that the GDP growth target of 8% or more in 2025 remains unchanged in the difficult context due to tax policies from the US.

PHOTO: NHAT BAC

Listening to the opinions of ministries, branches and Government leaders, Prime Minister Pham Minh Chinh emphasized that the current situation shows that trade competition is becoming more fierce and unpredictable. According to the Prime Minister, Vietnam hopes that the US side will have a policy that is consistent with the good relations between the two countries, with the wishes of the people of both sides and Vietnam's efforts in recent times, in accordance with the conditions and circumstances of Vietnam as a developing country, still having to continue to overcome the severe and prolonged consequences of many years of war.

The Prime Minister requested ministries and branches to remain calm, courageous, and have countermeasures for all developments to continue to overcome difficulties and requested the immediate establishment of a rapid response team on this issue headed by Deputy Prime Minister Bui Thanh Son; assigned Deputy Prime Minister Ho Duc Phoc to chair and direct ministries and branches to listen to opinions from businesses, including large export enterprises.

The Prime Minister emphasized that this is also an opportunity to affirm the nation's mettle and strength; an opportunity to restructure the economy towards rapid but sustainable development, greening, digitalization, based on science, technology, and innovation.

In particular, the Prime Minister emphasized that the GDP growth target of 8% or more in 2025 remains unchanged.

Deputy Prime Minister Ho Duc Phoc is about to go to the US.

According to the Government's electronic information portal, from April 6 to 14, Deputy Prime Minister Ho Duc Phoc will attend the High-Level Policy Dialogue Program at Columbia University (New York), visit and work in the US and pay an official visit to the Republic of Cuba.

Deputy Prime Minister Ho Duc Phoc's visit and working visit to the US took place in the context of the US having just announced high reciprocal tariffs on 25 economies.

Vietnam is subject to a 46% reciprocal tax on the 90% tariff that the US claims Vietnam applies to US goods (including currency manipulation and trade barriers). The 46% reciprocal tax on Vietnamese goods announced by President Donald Trump in the early morning of April 3 (Vietnam time) is causing confusion among the domestic business community.

The Prime Minister’s quick response and Deputy Prime Minister Ho Duc Phoc’s trip to the US are expected to lead to more favorable negotiations for Vietnam, given the very high reciprocal tariffs that the US government has just imposed. The business community also hopes to have positive information to plan appropriate responses.

Thanhnien.vn

Source: https://thanhnien.vn/thu-tuong-thanh-lap-to-phan-ung-nhanh-ve-viec-my-ap-thue-doi-ung-46-185250403131019865.htm