On the afternoon of April 6, at the regular Government press conference for the first quarter of 2025, Mr. Truong Thanh Hoai, Deputy Minister of Industry and Trade, informed about Vietnam's export activities when the US announced the imposition of a 46% reciprocal tax on Vietnamese goods.

Mr. Hoai said that the US announcement of imposing a 46% reciprocal tax on Vietnamese goods from April 9 has had a huge impact on export activities as well as economic growth. In particular, this decision directly affects the processing and manufacturing industries, FDI attraction, domestic investment and the service sector... Some key export items such as computers, electronic components, textiles, footwear... are at risk of decreasing export turnover.

“When the US increases taxes, the prices of Vietnamese export goods in the US will increase, which will affect the level of competitiveness with goods from other countries. At the same time, the purchasing power of US consumers will also decrease, causing the demand for Vietnamese goods to decrease,” said Mr. Hoai.

Mr. Hoai also pointed out that, with the signed contracts, American businesses themselves will reconsider whether to continue purchasing and selling goods with Vietnam or not.

The Deputy Minister of Industry and Trade also recalled that on the evening of April 4, General Secretary To Lam had a very successful phone call with US President Donald Trump.

The Government has proactively reported and proposed many contents and received approval from the Politburo. The Ministry of Industry and Trade has also implemented a series of measures to contact different levels of the US and clarify Vietnam's stance.

Accordingly, both sides wish to continue to strengthen bilateral cooperation in the overall development of the two countries. Vietnam is willing to discuss with the US about reducing the import rate of goods from the US to 0%. This is an important step to resolve the tariff issue with the US.

In the coming time, Mr. Hoai said that the Ministry of Industry and Trade will continue to coordinate with relevant US ministries and sectors to closely discuss remaining issues in investment and trade relations between the two countries.

The Deputy Minister also said that exports in the coming time will face many challenges, so ministries and branches must also coordinate closely with businesses to effectively implement the proposed measures.

The first solution is to effectively utilize free trade agreements (FTAs); promote the diversification of export markets such as the Middle East, Latin America, etc.; strengthen trade promotion, improve logistics infrastructure to reduce transportation costs and enhance the competitiveness of Vietnamese goods.

Support capacity building of domestic manufacturing and export enterprises of Vietnam to ensure adaptation to the market and development trends.

“We need to have a more drastic policy for the manufacturing and processing industry, to promote the increase of domestic value for industrial products, meeting the origin requirements of countries,” said Mr. Hoai.

Mr. Hoai also emphasized that it is necessary to ensure the legitimate rights and interests of enterprises, ensure early and timely handling of trade disputes and problems, in order to minimize damage to Vietnamese enterprises.

“Despite facing many challenges, we must restructure the economy in a fast and sustainable direction, increase autonomy, and promote market diversification,” said Mr. Hoai.

The Deputy Minister of Industry and Trade requested that businesses proactively update market information and regularly monitor trade policies of countries to promptly adjust appropriate business strategies.

At the same time, on the basis of the FTAs ​​that Vietnam has signed, it is necessary to diversify export markets, effectively exploit key markets, traditional markets as well as small markets, niche markets. Ensure compliance with the rules of origin in FTAs, avoid risks related to trade fraud, avoid the use of raw materials and goods from third countries...

Source: https://vtcnews.vn/thu-truong-cong-thuong-thong-tin-viec-ung-pho-voi-thue-doi-ung-cua-my-ar936084.html