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Deputy Prime Minister Ho Duc Phoc at his working session with enterprises exporting products to the U.S., industry associations, and related agencies in Hanoi, Vietnam, April, 4, 2025. Photo by VGP |
Phoc made the statement at his working session in Hanoi with enterprises exporting products to the U.S., industry associations, and related agencies.
The Deputy PM expressed his surprise at the U.S.’s decision announced on Wednesday, but underscored Vietnam’s consistent openness and cooperation with the U.S. in securing equitable tariffs, curbing goods transshipment, and fostering mutually beneficial trade.
He highlighted a recent decree, issued on March 31, slashing 23 tariff lines on goods imported from the U.S., many now at 0%, as proof of Vietnam’s goodwill. The country has also fast-tracked contracts for U.S. products like aircraft and liquefied natural gas (LNG), while easing the way for U.S. investment and trade.
Looking ahead, Phoc affirmed Vietnam’s intent to boost imports of U.S. raw materials and equipment, noting that the two nations’ goods complement each other rather than compete. He reiterated Vietnam’s firm stance against trade fraud, ensuring it will not serve as a transshipment hub, and pledged adherence to international commitments to avoid affecting businesses and the economy of Vietnam, the U.S.’s consumption, the Vietnam-U.S. Comprehensive Strategic Partnership and global supply chains.
Vietnam will also roll out measures to increase cooperation with the U.S. in sci-tech and digital transformation, and increase imports of American-made products as well, the Deputy PM said.
He encouraged Vietnamese exporters to hold steady on prices while waiting for results of negotiations and adopt proactive strategies to maintain their U.S. market shares. The Vietnamese Government, Phoc added, will work closely with businesses to devise solutions to weather these challenges.
The Deputy PM also called on the American Chamber of Commerce (AmCham) in Vietnam and the U.S.-ASEAN Business Council to convey the message of goodwill from the Vietnamese Government and business community to President Donald Trump’s administration to foster effective talks that could further reinforce the Vietnam-U.S. comprehensive strategic partnership.
Virginia Foote, Vice Chair of AmCham Hanoi, welcomed Vietnam’s efforts, noting U.S. companies’ eagerness to finalise deals in energy, LNG, and aviation to balance trade.
She highlighted U.S. firms’ confidence in Vietnamese consumers’ demand, thus driving their push to expand in this vibrant market.
Foote also advised Vietnam to show its efforts in combating transshipment of goods and thoroughly resolving accusations and rumors that are not beneficial to Vietnam.
