On April 10, the Special ASEAN Economic Ministers' Meeting on US Tariff Policy was held online, chaired by the Minister of Investment, Trade and Industry of Malaysia as the ASEAN Chair in 2025.

The Vietnamese delegation attending the conference was led by Minister of Industry and Trade Nguyen Hong Dien, along with representatives from the Ministry of Foreign Affairs and units under the Ministry of Industry and Trade.

The conference was held in the context of the US government announcing the application of a basic reciprocal import tax of 10% on all imported goods from April 5 and additional tax rates on countries with large trade deficits with the US from April 9.

At the conference, ASEAN Economic Ministers highly appreciated Malaysia's initiative in proactively proposing and organizing a special ASEAN Economic Ministers' Meeting to exchange, assess the situation and discuss strategic approaches to protect regional economic interests and reduce negative impacts on businesses and people's lives.

On the Vietnamese side, Minister of Industry and Trade Nguyen Hong Dien shared Vietnam's viewpoint on the US's reciprocal tariff policy. Accordingly, Vietnam has been proactive in exchanges, dialogues and negotiations with the US. Vietnam believes that ASEAN needs to be united, calm and courageous in cooperation with the US.

Vietnam prioritizes promoting cooperation with non-bloc partners in general and the US in particular in areas of mutual interest, thereby realizing long-term development goals and enhancing ASEAN's position in the new context.

Vietnam supports ASEAN's comprehensive, flexible and practical approach in enhancing economic autonomy and promoting supply chain diversification through effective utilization of existing FTAs, including through upgrading the ASEAN Trade in Goods Agreement (ATIGA).

The Vietnamese delegation attending the Conference was led by Minister of Industry and Trade Nguyen Hong Dien (Photo: VGP).

After discussions in a spirit of frankness, openness and cooperation, the ministers agreed to adopt a joint statement, expressing the bloc's common stance on the US's application of reciprocal tariffs.

The conference also agreed on a number of issues such as establishing a task force on ASEAN geo-economics to assess the impact on US tax policies. From there, timely proposals and recommendations will be made to support ASEAN's efforts in the exchange process; address concerns and seek cooperation opportunities in new areas of mutual interest.

The ministers affirmed the importance of the ASEAN-US comprehensive strategic partnership for regional economic growth, contributing to promoting peace and stability, and bringing practical benefits to the entire region.

ASEAN is the 5th largest trading partner of the US and the US is also the 2nd largest trading partner and largest investor of ASEAN.

The Parties reaffirmed ASEAN's commitment to a rules-based, predictable, transparent, free, fair, inclusive and sustainable multilateral trading system with the World Trade Organization (WTO) playing a central role.

ASEAN called on the US to engage in constructive dialogue, frankly address concerns related to trade, ensure a balanced and sustainable relationship; and commit to continue cooperation with the US in trade, investment and high value-added areas of mutual interest.

ASEAN countries are also willing to strengthen cooperation with the US based on existing cooperation mechanisms such as the ASEAN-US Trade and Investment Framework Agreement (TIFA) and the Expanded Economic Engagement Work Plan (E3) to seek appropriate solutions to mutually beneficial issues.

Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/asean-hop-thanh-lap-nhom-dac-trach-ve-chinh-sach-thue-cua-my-20250410180700673.htm