Deputy PM chairs task force meeting on economic and trade cooperation with US

Deputy PM chairs task force meeting on economic and trade cooperation with US

Deputy Prime Minister Bùi Thanh Sơn tasked the Ministry of Finance with continuing to review and refine plans to reduce import tax.

Deputy Prime Minister Bùi Thanh Sơn chaired a meeting of the task force on enhancing cooperation and proactively adapting to adjustments in US economic and trade policies. — Photo baochinhphu.vn

Deputy Prime Minister Bùi Thanh Sơn chaired a meeting of the task force on enhancing cooperation and proactively adapting to adjustments in US economic and trade policies on April 8.

The meeting was attended by Minister of Industry and Trade, Nguyễn Hồng Diên and the Governor of the State Bank of Việt Nam Nguyễn Thị Hồng, alongside representatives from the Ministries of Finance, Foreign Affairs, National Defence, Public Security, Agriculture and Environment, Science and Technology, Construction, Health, Culture, Sports and Tourism and the Government Office.

Members of the task force provided updates on the latest developments and discussed response measures following the US announcement of reciprocal tariffs on goods from several countries, including Việt Nam.

Deputy PM Sơn requested that members continue to effectively implement their assigned tasks, pursue diplomatic efforts through various channels to engage with US authorities and seek solutions aligned with Việt Nam’s specific conditions and the Comprehensive Strategic Partnership between the two countries.

He also tasked the Ministry of Finance with continuing to review and refine plans to reduce import tax.

On non-tariff issues, ministries and agencies will review relevant legal regulations. Any provisions deemed unreasonable, even for domestic enterprises, should be considered for removal or proposed for elimination by competent authorities.

The Ministry of Industry and Trade is requested to closely monitor and control product origin to prevent unfortunate incidents. Meanwhile, the Ministry of Finance will enhance information exchange with US customs authorities on trade defence measures and tax evasion.

Regarding copyright and intellectual property rights, he assigned the Ministry of Science and Technology to review relevant legal regulations and address concerns raised by the US.

The Ministry of Finance is to coordinate with relevant ministries and sectors in developing a bilateral agreement with the US, including additional provisions on taxation and intellectual property.

He also instructed the Ministry of Finance to develop a comprehensive plan to support enterprises.

The Ministry of Industry and Trade is assigned to strengthen the promotion of the 17 free trade agreements’ content, enhance trade promotion efforts toward new markets, assist businesses in adapting to these new markets and promptly inform enterprises of policy changes in export markets. 

Bizhub