Vietnam seeks 45-day delay in US tariff imposition: Prime Minister

Vietnam will ask the U.S. to delay imposing its new tariffs on imports from Vietnam for at least 45 days, so that there is time for negotiations, preparations, and a smooth transition, said Prime Minister Pham Minh Chinh.

Chinh made the statement at a meeting with ministries and agencies on Monday, five days after President Donald Trump announced he will levy 46% tariffs on imports from Vietnam as part of a new wave of global impositions.

The tax rate for Vietnam, effective from April 9, is among the highest, only after Laos (48%) and Madagascar (47%).

Vietnam will also negotiate with the U.S. for a bilateral agreement towards sustainable and balanced trade, ensuring mutual benefits, shared risks, and advantages for consumers in both countries, while safeguarding Vietnam’s international commitments, the cabinet leader said at the meeting, the third on the tax issue since President Trump’s announcement.

He lauded efforts by ministries and agencies in preparing relevant reports and instructed them to finalize all necessary documents in support of the negotiation delegation to the U.S.

The leader also asked authorities to work in line with the consensus reached by Party chief To Lam and President Donald Trump during their phone call on April 4.

During the talk, Lam affirmed that Vietnam is willing to negotiate with the U.S. to cut import tariffs on U.S. goods down to zero. Lam proposed the U.S. do the same for Vietnamese exports.

The Party chief that Vietnam seeks to increase imports from the U.S. and will encourage and create favorable conditions for American businesses to further invest in the country.

At the Monday meeting, reflecting on trade solutions, Chinh said Vietnam will continue purchasing goods in the areas of American strength and Vietnamese demand, including items related to security and defense.

The country will also seek faster deliveries of commercial planes that Vietnamese airlines have ordered from the U.S., the PM stressed.

At the same time, Vietnam will continue efficiently addressing U.S. concerns and managing monetary policies in accordance with Vietnamese law and international practices, aiming to stabilize interest rates and secure exchange rate stability, according to the cabinet leader.

Regarding non-tariff issues, Chinh assigned the Government Office to review the matters of U.S. concern, and ministries and agencies to conduct thorough studies and provide appropriate, reality-based responses.

For product origin, the Ministry of Industry and Trade will strictly monitor the origin of goods in line with Vietnamese law, ensuring no unexpected incidents occur.

For copyright and intellectual property, Chinh tasked the Ministry of Science and Technology with reviewing relevant legal regulations and strengthening enforcement to protect the legitimate rights and interests of holders, and to crack down on counterfeiting, imitation goods, and origin fraud.

He instructed an expansion of preferential credit packages for the seafood sector, with consideration of similar credit schemes for other industries and products.

Debt rescheduling and lending rate reduction should continue for sectors potentially affected by U.S. tariff measures, the Prime Ministerr said, adding that tax and land rent payments should be deferred for enterprises facing hardships.

Authorities were also asked to review VAT refunds to streamline administrative procedures and reduce bureaucratic hurdles, while considering tax relief proposals, starting with value-added tax.

Vietnam will continue diplomatic efforts through various channels to engage with U.S. agencies, seeking solutions that align with its own conditions and the Comprehensive Strategic Partnership between the two countries, he stressed.

Deputy Prime Minister Ho Duc Phoc, accompanied by executives from companies, is now in the U.S. for a high-level policy dialogue at Columbia University in New York, and a working visit to the U.S., starting April 6.

The National Statistics Office of Vietnam reported on Sunday that Vietnam posted a trade surplus of $3.16 billion in Q1/2025. The U.S. was Vietnam’s biggest export market with an export revenue of $31.4 billion, up 16.5% year-on-year.

Vietnam’s trade surplus with the U.S. in January-March was $27.3 billion, up 22.1% year-on-year.