HCMC – Vietnam will benefit from a 90-day suspension of steep U.S. reciprocal tariffs, during which a reduced 10% tariff will apply to allow time for further negotiations.
In the early hours of April 10 (Vietnam time), U.S. President Donald Trump announced on Truth Social that more than 75 countries had proactively reached out to the U.S. to address trade concerns.
Since these countries did not retaliate against the U.S., he decided to suspend tariffs for 90 days and apply a lower reciprocal tariff rate of just 10% during this period.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, who is part of the delegation led by Deputy Prime Minister Ho Duc Phoc to the U.S., confirmed with the Tuoi Tre news site that Vietnam is included in the U.S.’s 90-day suspension of reciprocal tariffs and benefits from a reduced 10% rate during this period.
This initial outcome is good news and marks the first result of negotiation efforts by Party General Secretary To Lam, the Government, and relevant ministries. It also presents an opportunity for Vietnam to make important strategic shifts in negotiating reciprocal tariffs, pursuing a bilateral agreement with the U.S., and restructuring its production and business operations.
According to information released by the Government on the morning of April 10, Deputy Prime Minister Ho Duc Phoc, in his capacity as special envoy of Party General Secretary To Lam, met with U.S. Trade Representative Jamieson Greer to discuss trade issues.
U.S. Trade Representative Jamieson Greer agreed that the two sides would begin negotiations on a reciprocal trade agreement, which will include provisions on tariffs, and proposed that technical-level teams from both sides begin discussions immediately.
