Deputy Prime Minister Ho Duc Phoc

Deputy Prime Minister Ho Duc Phoc made the above statement during his meeting with leaders of several ministries and business associations in Ha Noi on April 4.

Ho affirmed that Viet Nam has coordinated closely and proactively with the U.S. to negotiate for fair tariff solutions and promoted the two-way trade in a mutually beneficial manner.

The Government has recently promulgated Decree No. 73/2025/ND-CP, in which the Government reduces many tax lines on goods imported from the U.S., he added.

The Southeast Asian country has also promoted contracts to purchase goods from the U.S., such as aircraft and liquefied natural gas while creating favorable conditions for American investors to do business in Viet Nam.

In the time to come, Viet Nam will continue solutions to enhance import of materials and equipment from the U.S., and expects to boost cooperation with the U.S. in the fields like science, technology, and digital transformation.

He took the occasion to urge the Amcham Viet Nam and the U.S.-ASEAN Business Council to convey the goodwill from the Vietnamese Government and the business community to President Donald Trump's Administration for effective tax negotiations.

Viet Nam's exports to the U.S. mainly compete with goods from third countries, not with U.S.-made products, thereby benefiting American consumers with more affordable options, according to the Ministry of Industry and Trade.

The U.S. Administration's decision to impose a 46-percent tariff on Vietnamese goods places Viet Nam among the nations facing the highest tariff rates, surpassing those imposed on Viet Nam's competitors in the U.S. market like Thailand (36 percent), Pakistan (29 percent), and the Philippines (17 percent).

Viet Nam is also subject to a much higher rate than that of Bangladesh (37 percent), China (34 percent), Indonesia (32 percent), India (26 percent), Malaysia and Japan (both 24 percent), and the EU (20 percent)./