Positive prospects for negotiations with the US, doing everything to prevent the 46% tax from happening

Deputy Prime Minister Nguyen Hoa Binh said the prospect of tax negotiations with the US was 'positive and the Government was working hard to ensure that the 46% tax rate would not happen'.

Permanent Deputy Prime Minister Nguyen Hoa Binh answers questions on the morning of June 20

This information was stated by Permanent Deputy Prime Minister Nguyen Hoa Binh when answering questions before the National Assembly on the morning of June 20.

Mr. Ta Van Ha, Vice Chairman of the Committee for Culture andEducation, mentioned the context of the US imposing a 46% tax on some key Vietnamese products. "What are the immediate solutions to support businesses to overcome difficulties and what are the changes in the long-term trade strategy to protect national interests, maintain and promote sustainable international trade?" he asked.

Deputy Prime Minister Nguyen Hoa Binh said the two countries are in the process of negotiating, with "the highest effort, doing everything to prevent the 46% tax that the US plans to impose on Vietnamese goods from happening."

General Secretary To Lam had a phone call with the US President, and Prime Minister Pham Minh Chinh also continuously directed and worked with ministries, branches, and localities to deploy solutions.

He informed that the Government's negotiating team is actively negotiating with the US side, and "the negotiation prospects are positive, the two sides understand each other better and strive to achieve the set goals". This, he said, will partly remove difficulties for export businesses.

Mr. Ta Van Ha, Deputy Chairman of the Committee on Culture and Education

However, in the face of unpredictable fluctuations, the Deputy Prime Minister said Vietnam needs a long-term strategy, proactively restructuring the economy, and promoting the advantages of free trade agreements signed with many countries - this is a large development space, so as not to depend on one market.

"The world is very big, we are looking for new markets and supporting businesses to export to these markets," he added.

Along with that, domestic production also needs to change, towards deep processing production, not just exporting fresh goods. This is to create more growth. "Diversifying markets and restructuring the economy, we can cope with unpredictable fluctuations. In case of risks, the Government is ready with tax and fee solutions to support businesses," he said.

In early April, President Donald Trump announced a basic tax and corresponding tax on imports from countries with a trade surplus with the US. The tax rate on imports from Vietnam is 46%. A week later, Mr. Trump decided to postpone the imposition of tariffs on countries, except China, for 90 days.

After the US announced the postponement of the reciprocal tariffs and agreed to start negotiations with Vietnam, Prime Minister Pham Minh Chinh established a Government negotiating team. Minister of Industry and Trade Nguyen Hong Dien is the head of the negotiating team. Since early May, the Vietnamese technical exchange team has been working on bilateral trade negotiations with relevant US agencies.

At the online negotiation session on the evening of June 19 with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer, Minister of Industry and Trade Nguyen Hong Dien said that Vietnam wants to work with the US to build harmonized rules of origin that are consistent with the global supply chain, non-discriminatory and create favorable conditions for businesses of both countries.

VN (according to VnExpress)

Source: https://baohaiduong.vn/trien-vong-dam-phan-voi-my-tich-cuc-lam-moi-viec-de-muc-thue-46-khong-xay-ra-414522.html