Hanoi seeks 1-3 month tariff reprieve to negotiate with Trump administration
Hanoi seeks 1-3 month tariff reprieve to negotiate with Trump administration
The Vietnamese government has proposed that the U.S. delay the implementation of new reciprocal tariffs on Vietnamese exports for a period of one to three months, aiming to create space for diplomatic negotiations.
Vietnamese Deputy Prime Minister Ho Duc Phoc. Photo: Vietnam Government Portal |
The request follows Washington’s announcement of a 46-percent tariff on Vietnamese goods, citing trade imbalances.
At a high-level meeting on Friday afternoon chaired by Deputy Prime Minister Ho Duc Phoc, senior officials from multiple ministries, along with representatives from major industry associations and American business chambers, gathered in Hanoi to discuss the urgent need to manage the impact of the tariff measures.
Speaking at the meeting, Deputy PM Phoc emphasized that Vietnamese and American goods are largely complementary, not directly competitive, and that Vietnam has actively worked to reduce tariffs and improve its investment environment.
Representatives from Vietnam’s key export sectors, including wood, seafood, electronics, pepper, textiles, plastics, and steel, said that the U.S. is a vital, leading market.
They argued that Vietnamese goods meet high quality standards and support U.S. consumers and businesses.
Enterprises also affirmed their willingness to increase imports of U.S. goods and to provide documentation proving transparent supply chains and product origins.
“We must do everything we can to retain access to the U.S. market,” one business leader remarked.
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| Vietnamese Deputy Prime Minister Ho Duc Phoc convenes a meeting with business associations and diplomatic missions to discuss solutions to the ongoing tariff issue with the U.S., Hanoi, April 4, 2025. Photo: Vietnam Government Portal |
Vietnamese officials proposed that the American Chamber of Commerce in Vietnam and the U.S.-ASEAN Business Council advocate with the administration of President Donald Trump for increased dialogue.
They specifically requested a temporary suspension of the new tariffs for approximately 2-3 months to allow both sides to conduct negotiations and reach a common understanding.
Executives highlighted ongoing Vietnam-U.S. partnerships, including Vietjet CEO Dinh Viet Phuong, who noted the airline expects to receive $1.8 billion worth of Boeing aircraft in 2025 and has $2.2 billion in total contracts with U.S. firms this year.
He thanked the Vietnamese government for its strong support in facilitating cooperation with the U.S. market and outlined recommendations for successful upcoming negotiations.
Representatives from the American Chamber of Commerce in Vietnam and the U.S.-ASEAN Business Council commended Vietnam's timely and balanced approach to the U.S. tariff imposition.
Leaders from relevant agencies affirmed Vietnam's commitment to continued dialogue and review to consider and remove technical barriers and adjust tax rates for various product groups and industries.
They also expressed a desire to import scientific and technological products and high-tech goods from the U.S. to foster bilateral trade cooperation, as well as to manage exchange rates, interest rates, and credit appropriately to support domestic production, business, import, and export activities.
Deputy PM Phoc stressed that Vietnam is committed to fair trade and reiterated its opposition to transshipment practices, aiming to expand two-way trade on a win-win basis.
He highlighted recent steps including Government Decree 73, which reduced import tariffs on various U.S. goods, and the promotion of major commercial contracts for U.S. goods and materials.
Deputy PM Phoc proposed that the U.S. consider postponing the new tariff measures by one to three months to allow for meaningful negotiations, during which both countries can work toward a fair and reciprocal tax structure.
He also encouraged Vietnamese exporters to maintain current prices to avoid further market volatility.
He also requested U.S. business associations to convey the goodwill message from the Vietnamese government and business community to the Trump administration to ensure effective and successful negotiations, contributing to the strengthening of the comprehensive strategic partnership.
- 14:41 05/04/2025
