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 to respond to the US retaliatory tariffs was attended by Deputy Prime Minister Nguyen Hoa Binh , Deputy Prime Minister Ho Duc Phoc, Deputy Prime Minister Nguyen Chi Dung; and ministers from the Ministries of Finance, Industry and Trade, Agriculture and Environment, Science and Technology, and the State Bank of Vietnam...

The Prime Minister emphasized that the target of 8% or higher GDP growth in 2025 remains unchanged despite the difficulties caused by US tariff policies.

PHOTO: NHAT BAC

Listening to the opinions of ministries, agencies, and government leaders, Prime Minister Pham Minh Chinh emphasized that the current situation shows that trade competition is becoming more intense and unpredictable. According to the Prime Minister, Vietnam hopes that the US will adopt policies that are consistent with the good relations between the two countries, with the wishes of the people of both sides, and with Vietnam's efforts in recent years, and in line with Vietnam's conditions and circumstances as a developing country still struggling to overcome the severe and prolonged consequences of years of war.

The Prime Minister requested that ministries and agencies remain calm, resolute, and have countermeasures in place to continue overcoming difficulties. He also requested the immediate establishment of a rapid response team on this issue, headed by Deputy Prime Minister Bui Thanh Son; and assigned Deputy Prime Minister Ho Duc Phoc to chair and direct ministries and agencies to listen to feedback from businesses, including large export businesses.

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

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

Deputy Prime Minister Ho Duc Phuoc is about to go to the United States.

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

Deputy Prime Minister Ho Duc Phoc's visit to the US took place against the backdrop of the US having just announced high retaliatory tariffs on 25 economies.

Vietnam is facing a 46% retaliatory tariff on top of the 90% tariffs that the US claims Vietnam applies to US goods (including currency manipulation and trade barriers). The 46% retaliatory tariff on Vietnamese goods, announced by President Donald Trump early on April 3rd (Vietnam time), is causing widespread concern among domestic businesses.

The swift response from the Prime Minister and the trip to the US by Deputy Prime Minister Ho Duc Phoc are expected to lead to negotiations that are more favorable to Vietnam, given the very high retaliatory tariffs recently imposed by the US government. The business community also hopes to receive 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