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 that enjoy 0% reciprocal tax

According to information from the Ministry of Industry and Trade , on October 26, Vietnam and the US agreed to announce a Joint Statement on the framework of a reciprocal, fair and balanced trade agreement on the occasion of Prime Minister Pham Minh Chinh and President Donald Trump attending the ASEAN Summit from October 26 to 28 in Kuala Lumpur, Malaysia.

The two sides also agreed to continue negotiating reciprocal taxes and removing tariff barriers in the coming time.

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

PHOTO: VNA

According to the Ministry of Industry and Trade, the joint statement is a document that Vietnam and the US agreed to issue to demonstrate the results of the two countries' reciprocal trade negotiations to date. The joint statement also acknowledges the efforts of government agencies and businesses of the two countries in building economic and trade relations on a balanced, stable and sustainable basis, in line with the Vietnam -US Comprehensive Strategic Partnership.

The Joint Statement acknowledged the main contents of the Vietnam -US reciprocal, fair and balanced trade agreement. Accordingly, Vietnam and the US will cooperate constructively to address the concerns of both sides regarding non-tariff barriers, agree on commitments related to digital trade, services and investment; discuss intellectual property, sustainable development as well as strengthen cooperation to improve the resilience of the supply chain, including handling tax evasion and coordination in export control...

According to the joint statement, some other specific provisions include that Vietnam will grant 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 will identify products in the "Potential Tariff Adjustment for Likely Oriented Partners" category to enjoy a 0% reciprocal tariff.

Prime Minister Pham Minh Chinh attends the 47th ASEAN Summit Plenary Session and the Handing Ceremony of the Second Protocol Amending the ASEAN Trade in Goods Agreement (ATIGA)

PHOTO: VNA

Also according to the Ministry of Industry and Trade, in the joint statement released, Vietnam and the US determined that the two sides will continue to discuss and implement the next steps towards completing a reciprocal, fair and balanced trade agreement based on the principles of openness, constructiveness, equality, respect for independence, autonomy, political institutions, mutual benefit and consideration of each other's development level.

Promoting the Vietnam - US Comprehensive Strategic Partnership

On the same day, on the occasion of 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. At the meeting, the Prime Minister respectfully conveyed the invitation of General Secretary To Lam and senior Vietnamese leaders to President Trump to visit Vietnam . President Donald Trump happily accepted the invitation and said he was very much looking forward to and would arrange time to visit Vietnam .

On the basis of the Comprehensive Strategic Partnership for Peace, Cooperation and Sustainable Development between Vietnam and the United States, Prime Minister Pham Minh Chinh asked the US side to arrange a visit to the US by General Secretary To Lam. President Donald Trump asked the Vietnamese side to promptly inform the US side and expressed his hope that the Vietnamese Prime Minister would also visit the US at a time convenient for both sides.

At the meeting, the two leaders agreed to pay attention to promoting the Comprehensive Strategic Partnership for peace, cooperation and sustainable development between Vietnam and the US to become increasingly deeper, more substantial and effective, including the early signing of a reciprocal, fair and balanced trade agreement, promoting US investment in Vietnam .

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

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

Inclusive and sustainable ASEAN

Also on October 26, Prime Minister Pham Minh Chinh and the Vietnamese high-ranking delegation attended the opening ceremony of the 47th ASEAN Summit and related summits, the second series of summits during Malaysia's ASEAN Chairmanship Year 2025 under the theme "Inclusiveness and Sustainability". Afterwards, the Prime Minister and leaders of ASEAN members and partners attended the plenary session of the 47th ASEAN Summit and the handover 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 "Unified Market - 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 had a series of bilateral meetings with leaders of countries, 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 (WB) 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