Vietnam - US agree on joint statement on reciprocal tax

Vietnam and the US announced a joint statement on the framework of a reciprocal, fair and balanced trade agreement and will continue negotiations to remove barriers on reciprocal tariffs.

Identify products eligible for a 0% reciprocal tax rate.

According to information from the Ministry of Industry and Trade , on October 26, Vietnam and the United States agreed to announce a Joint Statement on the Framework for a Reciprocal, Fair and Balanced Trade Agreement, coinciding with Prime Minister Pham Minh Chinh and President Donald Trump's participation in the ASEAN Summit from October 26-28 in Kuala Lumpur, Malaysia.

Both sides also agreed to continue negotiations on reciprocal tariffs and remove tariff barriers in the future.

Prime Minister Pham Minh Chinh met with US President Donald Trump at the 13th ASEAN-US Summit.

PHOTO: VIETNAM NEWS AGENCY

According to the Ministry of Industry and Trade, the joint statement is a document that Vietnam and the United States have agreed upon to express the results achieved so far in reciprocal trade negotiations. The joint statement also acknowledges the efforts of government agencies and businesses in both countries in building economic and trade relations on a balanced, stable, and sustainable basis, consistent with the comprehensive strategic partnership between Vietnam and the United States.

The joint statement acknowledges the key contents of the Vietnam -US Agreement on Reciprocal, Fair, and Balanced Trade. Accordingly, Vietnam and the US will cooperate constructively to address mutual concerns regarding non-tariff barriers, agree on commitments related to digital trade, services, and investment; discuss intellectual property, sustainable development, and enhance cooperation to improve supply chain resilience, including addressing tax evasion and coordinating export controls…

According to the joint statement, other specific provisions include Vietnam granting preferential market access to nearly all US agricultural and industrial exports while the US maintains a 20% reciprocal tariff on goods originating from Vietnam ; and identifying products in the "Potential Tariff Adjustments for Likely Oriented Partners" category to benefit from a 0% reciprocal tariff.

Prime Minister Pham Minh Chinh attended the Plenary Session of the 47th ASEAN Summit and the Signing Ceremony of the Second Protocol amending the ASEAN Trade in Goods Agreement (ATIGA).

PHOTO: VIETNAM NEWS AGENCY

According to the Ministry of Industry and Trade, in the joint statement released, Vietnam and the United States determined that both sides will continue to discuss and implement further work towards completing a reciprocal, fair, and balanced trade agreement based on the principles of openness, constructive dialogue, equality, respect for independence, autonomy, political institutions, mutual benefit, and consideration of each other's level of development.

Promoting the Vietnam -US Comprehensive Strategic Partnership

On the same day, while attending the 47th ASEAN Summit and related Summits in Kuala Lumpur, Prime Minister Pham Minh Chinh had a brief meeting with US President Donald Trump on the sidelines of the 13th ASEAN-US Summit. During the meeting, the Prime Minister respectfully conveyed the invitation from General Secretary To Lam and other senior Vietnamese leaders for President Trump to visit Vietnam . President Donald Trump happily accepted the invitation, expressing his strong desire and willingness to make time to visit Vietnam .

Based on the Comprehensive Strategic Partnership for Peace, Cooperation, and Sustainable Development between Vietnam and the United States, Prime Minister Pham Minh Chinh requested the US side to arrange a visit to the US by General Secretary To Lam. President Donald Trump requested that Vietnam inform the US side as soon as possible and expressed his wish for the Vietnamese Prime Minister to also visit the US at a time convenient for both sides.

During the meeting, the two leaders agreed to focus on promoting the comprehensive strategic partnership for peace, cooperation, and sustainable development between Vietnam and the United States, making it deeper, more substantive, and more effective. This includes the early signing of a reciprocal, fair, and balanced trade agreement and promoting US investment in Vietnam .

Following a proposal from Prime Minister Pham Minh Chinh, President Donald Trump responded positively and acknowledged the request to recognize Vietnam as a market economy, remove Vietnam from the D1 and D3 strategic export lists, and instructed senior US officials such as the Treasury Secretary and the Trade Representative present at the conference to respond to these issues for Vietnam as soon as possible.

Prime Minister Pham Minh Chinh also stated that Vietnam highly appreciates President Donald Trump's role in promoting the peaceful resolution of recent conflict hotspots around the world.

Inclusive and Sustainable ASEAN

Also on October 26th, Prime Minister Pham Minh Chinh and the high-level Vietnamese delegation attended the opening ceremony of the 47th ASEAN Summit and related summits, the second series of summits in Malaysia's ASEAN Chairmanship Year 2025 under the theme "Inclusiveness and Sustainability". Following this, the Prime Minister, along with leaders of ASEAN member states and partners, attended the Plenary Session of the 47th ASEAN Summit and the signing ceremony of the Second Protocol amending the ASEAN Trade in Goods Agreement (ATIGA).

Within the framework of the summit, Prime Minister Pham Minh Chinh attended and spoke at a series of important events: the high-level dialogue session within the framework of the ASEAN Business and Investment Summit 2025 (ABIS 2025) with the theme "Unifying Markets - Towards Shared Prosperity", the 3rd Summit of the Asian Zero Emission Community (AZEC), the 13th ASEAN-US Summit, the 28th ASEAN-Japan Summit, the 22nd ASEAN-India Summit...

In addition, the Prime Minister held a series of bilateral meetings with national leaders, governments, and international organizations, including Lao Prime Minister Sonexay Siphandone, Cambodian Prime Minister Hun Manet, Canadian Prime Minister Mark Carney, Brazilian President Lula da Silva, Japanese Prime Minister Takaichi Sanae, ASEAN Secretary-General Kao Kim Hourn, World Bank Vice President Carlos Felipe Jaramillo, and FIFA President Gianni Infantino.

Source: https://thanhnien.vn/viet-nam-my-thong-nhat-tuyen-bo-chung-ve-thue-doi-ung-185251026233815946.htm