U.S. agrees to start tariffs negotiations with Vietnam

On the afternoon of April 9, 2025 (local time), during his visit to the United States as Special Envoy of General Secretary To Lam to discuss bilateral economic and trade issues, Deputy Prime Minister Ho Duc Phoc met with U.S. Trade Representative Jamieson Greer.

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The Vietnamese Government requests the US temporarily suspend reciprocal tariffs

Deputy Prime Minister Ho Duc Phoc affirmed that Vietnam wishes to continue strengthening and deepening the Comprehensive Strategic Partnership with the United States; expressed appreciation to the U.S. Government for its consistent support for a “strong, independent, self-reliant, and prosperous” Vietnam; and emphasized that Vietnam remains committed to building an independent and self-reliant economy, as well as upholding a foreign policy of independence, self-reliance, multilateralism, and diversification of international relations.

Vietnam hopes to work closely with relevant U.S. agencies to operationalize the outcomes of the exchange between General Secretary To Lam and U.S. President Donald Trump on April 4, 2025, thereby sustaining stable and sustainable economic and trade relations for the benefit of businesses and people in both countries.

The Deputy Prime Minister stressed that in recent times, Vietnam has proactively implemented multiple measures to help address the trade imbalance between the two countries and to respond to U.S. concerns.

Accordingly, the U.S. imposition of high tariffs on Vietnamese exports is inconsistent with the mutually beneficial nature of the bilateral economic and trade relationship, and does not reflect the spirit of the Vietnam–U.S. Comprehensive Strategic Partnership.

The Deputy Prime Minister suggested that while the United States has agreed to postpone the imposition of tariffs for 90 days, both countries should promptly begin negotiations on a bilateral trade agreement to establish a long-term framework that promotes stable and mutually beneficial economic and trade relations, aligned with the Comprehensive Strategic Partnership between the two nations.

U.S. Trade Representative Jamieson Greer highly appreciated Deputy Prime Minister Ho Duc Phoc's visit as Special Envoy of General Secretary To Lam, expressing gratitude and appreciation for Vietnam's positive and proactive steps, demonstrating Vietnam's commitment to promoting Vietnam-US economic and trade relations.

The U.S. Trade Representative affirmed that the U.S. highly values ​​bilateral relations with Vietnam and wishes to closely coordinate to resolve the trade deficit, aiming for increasingly deeper relations in all fields.

The U.S. Trade Representative shared the reasons and challenges facing the U.S. economy that forced the Trump administration to implement the recent tariff policy, explaining that the high tax rate imposed by the Trump administration on Vietnam is due to the large trade deficit between the U.S. and Vietnam.

The U.S. agreed that the two sides should initiate negotiations on a reciprocal trade agreement, which would include tariff agreements, and asked technical levels from both sides to begin discussions immediately.

The two sides agreed to continue to closely coordinate to promote a favorable business environment, proactively review and consider minimizing non-tariff barriers to each other's goods, create favorable conditions for U.S. businesses to increase investment and business in Vietnam, and strengthen coordination to control and prevent acts of trade fraud.

Faced with this major challenge, the Vietnamese Government and relevant ministries have adopted a guiding approach: remain calm and flexible, stay grounded in reality, stand alongside businesses, and proactively engage in negotiations.

The Government always stands by businesses and will continue to listen and contribute ideas to find practical solutions. Unity and consensus for the common good of the sector and the nation will be crucial during this difficult period. In negotiations with the U.S., Vietnam needs to capitalize on its inherent advantages in agriculture: high-quality products, competitive pricing, non-direct competition with U.S. domestic production, and many items for which there are no substitutes.

The Ministry of Agriculture and Environment will direct localities, businesses, and farmers to maintain their production plans without changes for the time being. At the same time, it will support enterprises in seeking alternative markets and continue to gather feedback and recommendations from businesses and associations to submit to the Government.