The Vietnamese Government requests the US temporarily suspend reciprocal tariffs

On the afternoon of April 4, Deputy Prime Minister Ho Duc Phuc, along with leaders of relevant ministries and agencies, held a meeting with business associations, enterprises, and diplomatic representatives to discuss solutions for addressing tariff issues with the US.

During the meeting, Deputy Prime Minister Ho Duc Phuc emphasized that goods from Vietnam and the US do not compete with each other but rather complement one another. In recent times, Vietnam has proactively reviewed and reduced various taxes, improved the investment environment, and created favorable conditions for all types of enterprises to operate, aiming to promote efficient and sustainable business and production activities.

In light of the US imposing reciprocal tariffs on multiple countries, including Vietnam, the Deputy Prime Minister expressed his desire to hear consultation and recommendations from businesses, associations, and diplomats, so that Vietnam can develop appropriate solutions and engage in effective discussions with the US with the spirit of a win-win outcome, ensuring the most favorable conditions for enterprises to produce and conduct business.

Enhancing dialogue, temporarily suspending tariff imposition

At the conference, many participants emphasized that Vietnam’s exports to the US, particularly agricultural, forestry, aquatic products, and footwear, which are not only of high quality and meet increasingly strict standards, but also hold comparative advantages. These products complement the US economy and benefit American consumers.

Exporting goods from Vietnam to the US creates mutual benefits, and enterprises as well as industry associations affirmed their willingness to increase imports of US products, provide evidence of origin and production capacity to support the negotiation process, and emphasized that “every effort must be made to retain this market.”

Participants offered a range of practical recommendations for the Vietnamese Government to use in negotiations with the US, particularly in terms of specific products, sectors, and timing of potential tariffs. They also proposed measures to reduce the trade deficit between the two countries. Representatives from business associations and enterprises committed to continuing active cooperation with the Government to address emerging challenges in the near future.

At the meeting, representatives from the American Chamber of Commerce in Vietnam and the US-ASEAN Business Council expressed their appreciation for Vietnam’s timely and balanced response to the US tariff measures.

They also highlighted Vietnam’s competitive advantages and provided consultations on what areas need to be prioritized in order to promote bilateral trade. In addition, they outlined key topics for negotiation and recommended ways to address trade barriers and challenges in order to find effective, appropriate solutions that address US concerns and support the growth of both economies.

Leaders from the Ministry of Agriculture and Environment, Ministry of Industry and Trade, State Bank of Vietnam, Ministry of Science and Technology, and Ministry of Finance affirmed Vietnam’s continued commitment to dialogue and review of existing policies to consider removing technical barriers and adjusting tariff structures for specific products and industries. They also expressed interest in importing science and technology products and high-tech goods in which the US has strengths, to boost bilateral trade relations. In addition, they committed to managing exchange rates, interest rates, and credit flows appropriately to support enterprises engaged in production, business, and import-export activities.

Representatives of ministries and agencies called on the American Chamber of Commerce in Vietnam and the US-ASEAN Business Council to propose to President Donald Trump’s administration that the US enhance dialogue and temporarily postpone the imposition of new tariffs (for about 2-3 months) to allow both sides time to negotiate and reach mutual understanding.

Proactively working to 'maintain the US market'

Concluding the meeting, Deputy Prime Minister Ho Duc Phoc emphasized that Vietnam always remains proactive, open-minded, and strongly cooperative with the US in order to negotiate tariffs in a fair manner; to combat the issue of goods transshipment; and to promote two-way trade in a mutually beneficial direction.

For example, the Government of Vietnam recently issued Decree No. 73/2025/NĐ-CP, which reduced multiple tariff lines on goods imported from the US into Vietnam. In addition, Vietnam has been and continues to promote the signing of contracts to purchase goods from the US (such as aircraft, LNG, etc.), while also facilitating favorable conditions for US enterprises to invest, manufacture, and conduct business in Vietnam.

In the coming period, the Government of Vietnam will continue to enhance measures to increase the purchase of raw materials and equipment from the US.

Reaffirming Vietnam’s goodwill in negotiations and the desire to reach common ground soon, Deputy Prime Minister Ho Duc Phoc clearly stated: The Government of Vietnam respectfully requests that the US consider temporarily suspending the imposition of tariffs for a period of 1 to 3 months to allow for negotiations aimed at ensuring fairness in taxation.

Vietnam will also implement measures to increase the import of goods originating from the US, and wishes to expand cooperation with the US in fields such as science, technology development, and digital transformation.

Deputy Prime Minister Ho Duc Phoc also called on Vietnamese exporters to the US market to maintain their current prices while awaiting the outcome of negotiations, and at the same time, to proactively implement appropriate and effective measures to retain the US market.

The Deputy Prime Minister further requested that the American Chamber of Commerce in Vietnam and the US-ASEAN Business Council convey the message of goodwill from the Vietnamese Government and business community to President Donald Trump’s Administration, in order to ensure that the negotiations are effective and lead to positive outcomes, thereby contributing to the strengthening of the Comprehensive Strategic Partnership between the two countries.