In their joint letter sent to the U.S. Secretary of Commerce, VCCI and AmCham called on the Trump administration to temporarily suspend the imposition of tariffs to avoid disrupting business operations, negatively affecting current trade transactions, and disturbing the logistics chain.
As two organizations representing the business community of Vietnam and the U.S., they hope that the governments of both countries will engage in open dialogues and work together to develop a constructive program aimed at reducing the U.S. trade deficit with Vietnam with the goal of improving living standards and promoting mutual prosperity for both nations.
The organizations’ leaders expressed their deep concerns over Trump’s statement regarding the imposition of reciprocal tariffs of up to 46% on Vietnamese goods to be imported by the U.S.
They stressed that if implemented, these unexpectedly high new tariffs will negatively impact the operations of member businesses and consumers, as well as the bilateral trade ties between the two countries.
They noted that reducing taxes on imported products into Vietnam and goods serving American consumers is a key factor in supporting U.S. businesses, economy and consumers while increasing taxes will not yield similar results.
VCCI and AmCham believe that the Vietnamese government is implementing positive measures, demonstrating a strong commitment to improving the trade balance with the U.S., while removing barriers faced by U.S. businesses and investors.
The letter also mentioned that, in the past week, Vietnam reduced taxes on 13 groups of goods, bringing practical benefits to U.S. exporters. Vietnamese leaders were also committed to facilitating the import of more products from the U.S.
VCCI and AmCham pledged to continue to work closely with relevant agencies to address challenges in areas of digital trade, pharmaceutical imports, intellectual property rights, customs and tax procedures, government procurement, data management and security, and other related fields.
The letter also affirmed that Vietnam has become one of the fastest-growing export markets of the U.S. With a rapidly expanding middle class in Vietnam, opportunities for American businesses operating in agriculture, aviation, energy, equipment, pharmaceuticals, technology, and more, are immense, contributing to job creation and prosperity in the U.S. It stressed that the two economies are highly complementary, rather than directly competitive.
VCCI has recently been working with relevant agencies to take supportive actions to help the business community respond to the U.S.’ decision to impose reciprocal tariffs on goods exported to the country.
VCCI co-signed the letter with AmCham to the U.S. Department of Commerce, while also sending separate letters regarding this matter to the same department, the U.S. Trade Representative, the U.S. Chamber of Commerce, and other relevant agencies.
