Vietnam continues efforts in response to U.S. reciprocal tariffs

Prime Minister Pham Minh Chinh on April 29 chaired a meeting in Hanoi to further discuss tariff negotiation strategies with the United States.

The Prime Minister was quoted by the Government News as saying at the meeting that Vietnam will continue to amend its legal framework to address the concerns of the U.S., based on ensuring national sovereignty and international commitments, and in accordance with the laws of both countries.

This is the sixth meeting the Prime Minister has convened to implement the conclusions and directives of the Party Central Committee, the Politburo, and Party General Secretary To Lam in response to the U.S. reciprocal tariff policy.

According to the Prime Minister, Vietnamese authorities have actively addressed issues related to product origin, non-tariff barriers, intellectual property, copyright, and streamlining of administrative procedures.

The Prime Minister also requested that negotiations be expedited to sign in May, contracts including purchase and import of U.S. goods such as LNG, aircraft, pharmaceuticals, medical supplies, and agricultural products, in order to ensure a sustainable trade balance between the two countries.

Negotiations must be conducted in a calm, steadfast, and highly flexible manner while ensuring national sovereignty, security, and interests, as well as upholding international commitments, the Government leader noted.

Vietnamese agencies should engage in discussions with the U.S. to bring down import tariffs on each other's goods to mutually low and balanced levels, the Prime Minister said.

He called on the U.S. to soon recognize Vietnam as a market economy and lift restrictions on high-tech exports, with a view to promoting trade balance, facilitating technology transfer, and demonstrating the U.S.'s commitment to supporting an independent, strong, resilient, and prosperous Vietnam.

Vietnam is also working closely with ASEAN and other countries in the region to carry out negotiations that ensure a balance of interests and a sustainable trade balance between both sides, in line with the Comprehensive Strategic Partnership between the bloc and the U.S., according to the Government leader.