Measures sought to promote fair, sustainable trade relations with US

Prime Minister Pham Minh Chinh on April 22 chaired a meeting between standing Cabinet members and key ministries and agencies to discuss promoting fair and sustainable trade relations with the US.

This marks the fifth meeting the PM has held on implementing the conclusions of the Politburo and Party General Secretary To Lam regarding Vietnam’s adaptation to the US’s new tariff policies and strategies for enhancing bilateral trade ties.

After listening to reports and discussion of Deputy Prime Ministers and leaders of ministries and sectors, PM Chinh concluded that since the onset of new global trade dynamics, including US President Donald Trump’s new tariffs, Vietnam has made swift and flexible response. These efforts, he said, reflect a calm, proactive, and strategic approach that has been positively acknowledged by the US side.

On the foundation of the Vietnam - US comprehensive strategic partnership, Party General Secretary To Lam has held phone talks with President Trump, and Deputy Prime Minister Ho Duc Phoc was appointed as the General Secretary’s special envoy. The Minister of Industry and Trade was also designated as the Prime Minister’s envoy to directly engage with US counterparts. Senior leaders from the Party and State have met with the US Ambassador to Vietnam, influential politicians, scholars, and business leaders to exchange views and gain a deeper understanding of the situation, he noted.

Vietnam has proactively issued the government's decrees to reduce tariffs where feasbile on the US, resolved issues surrounding US-concerned projects within the legal framework, and increased imports of US goods such as aircraft to help balance trade.

PM Chinh emphasised the importance of continued negotiations with the US to foster a fair and sustainable trade relationship, highlighting a calm, wise, and principled approach, while enhancing dialogue, avoiding confrontation, ensuring equality, and harmonising interests to benefit businesses and consumers on both sides. Above all, he stressed, Vietnam must safeguard its core interests in alignment with the Party’s foreign policy, particularly the recently issued Resolution No. 59-NQ/TW of the Politburo on international integration in the new context.

He underlined that Vietnamese goods do not compete unfairly with US products, and the overall trade relationship has benefited American consumers and driven Vietnam’s export growth. Therefore, Vietnam is ready to negotiate based on US proposals.

The PM instructed ministries, especially the negotiation delegation, to thoroughly prepare for talks with the US, adhering to directives from the Politburo, General Secretary To Lam, the Government, and the PM. The goal is to ensure trade between Vietnam and the US remains fair and sustainable, without complicating issues, affecting other international agreements, or disrupting other markets. He also stressed the need for mutually beneficial solutions that balance interests and share risks.

The Government leader held that the current global trade context as both a challenge and an opportunity for Vietnam to restructure its export drivers and businesses. He urged diversification in markets, products, and supply chains, with a focus on improving product quality, lowering costs, and investing in high-tech, green, circular, knowledge-based, and sharing economies anchored in science, technology, and digital transformation.

He tasked ministries, sectors, and localities with cooperating to address US concerns, while simultaneously improving institutional frameworks to foster development and protect domestic production. Key areas include product origin verification, anti-smuggling measures, combating trade fraud, and curbing counterfeit goods.

Additionally, he urged a review of tax refund mechanisms, reduction in administrative procedures, costs, and processing times as per Resolution 66/NQ-CP. He called for the immediate establishment of a National One-Stop Investment Portal, a National Investment Promotion Centre, and corresponding centres at the provincial level.

The overarching goal is to attract high-quality investment aligned with Vietnam’s development strategy, particularly in high-tech sectors, encouraging long-term, sustainable investors to engage in technology transfer, talent development, R&D, and supporting Vietnamese businesses’ integration into global supply chains, he stated.