HCMC – Deputy Prime Minister Bui Thanh Son has urged ministries to tighten oversight of product origin and finalize plans to reduce import tariffs, as Vietnam responds to the new U.S. tariff policy.
At a meeting of the rapid response task force on economic and trade cooperation with the U.S. on April 8, the deputy prime minister emphasized the importance of closely monitoring international developments and ensuring that Vietnam’s trade policy aligns with global standards.
Son also called for proactive engagement with U.S. authorities to safeguard Vietnam’s interests and maintain the momentum of the comprehensive strategic partnership established between the two countries.
The task force reviewed the U.S. decision to impose reciprocal tariffs on imports from other countries and discussed policy responses. Son instructed the Ministry of Industry and Trade to review and reinforce the verification of product origin to prevent violations that could trigger trade disputes.
He told the Ministry of Finance to complete a revised import tax reduction plan and enhance information sharing with U.S. customs agencies to address trade defense and tax evasion issues.
In addition, the deputy prime minister called on ministries and government agencies to review existing non-tariff measures. He urged the removal of any unreasonable provisions, even those affecting Vietnamese enterprises, to ensure consistency and transparency in trade regulations.
Regarding intellectual property, the Ministry of Science and Technology was directed to examine current legal frameworks and address U.S. concerns in this area. The Ministry of Finance, in coordination with other agencies, will begin drafting an upgraded bilateral trade agreement with the U.S., including new provisions on taxation and intellectual property rights.
To support the business community, Son tasked the Ministry of Finance with developing a comprehensive assistance plan for affected companies. The Ministry of Industry and Trade was assigned to promote awareness of Vietnam’s 17 free trade agreements, expand trade promotion in new markets, and ensure exporters receive timely updates on foreign trade policies.
The rapid response task force was established under Prime Minister Pham Minh Chinh’s decision on April 3, a day after the U.S. announced a 46% tariff on goods imports from Vietnam, with effect from today, April 9.
