US Trade Representative Jamieson L. Greer and Vietnamese Minister of Industry and Trade (MOIT) Nguyễn Hồng Diên agreed on the importance of making swift progress towards reciprocal and balanced trade between the US and Vietnam.
Amid the new US tariff policy, many Vietnamese businesses believe that, in addition to direct difficulties in tax rates, indirect difficulties will arise in terms of regulations on quality and traceability.
In the face of the US announcing a 46 per cent tariff on Vietnamese goods, including seafood products, Cà Mau Province has proactively reviewed and assessed the impact of the levy on this industry, ensuring that the production chain, especially shrimp exports,...
Dr Trương Minh Huy Vũ, Director of the HCM City Institute for Development Studies, emphasised the need to diversify export markets, strengthen international cooperation, and maximise the advantages of existing free trade agreements (FTAs).
Economists and business leaders are raising serious concerns over the US announcement to impose a 46 per cent reciprocal tariff on Vietnamese goods starting April 9, warning of potential negative impacts on exports and the country’s overall economic growth.
Việt Nam should continue bilateral negotiations with the US administration on major export commodities while guiding businesses in diversifying markets, attracting more US investments, and increasing purchases of goods from the US, an analyst has said.
While Việt Nam is not the largest exporter of steel and aluminium to the US, domestic businesses will still face significant challenges due to this policy.
As the threat of a global trade war looms, insiders held that Việt Nam needs to take proactive steps to develop tailored responses that will insulate its production, business, and export activities from the effects of market volatility.