Vietnam accelerates US imports to balance trade amid looming 46% tariff

PM Chinh issued the directive during a meeting with various ministries on Tuesday to review preparations for the Vietnam-U.S. trade negotiations, which were officially launched during phone talks between Vietnamese Minister of Industry and Trade Nguyen Hong Dien and U.S. Trade Representative Jamieson Greer on April 23.

The negotiations follow the U.S. administration's announcement of a 90-day delay in implementing its high tariff policy, initially set to take effect on April 9, which would impose elevated tariff rates on trade partners, including Vietnam, with which the U.S. has a trade deficit.

At the meeting, PM Chinh acknowledged the comprehensive and proactive efforts undertaken by Vietnamese authorities to address key U.S. concerns, including product origin, non-tariff barriers, intellectual property rights, and administrative procedures.

Despite positive developments, the situation remains complex, he noted, urging ministries and sectors to closely monitor developments, fully understand the evolving landscape, and respond swiftly, effectively, and appropriately.

The government leader requested that ministries and sectors take a highly proactive approach in engaging with the U.S. side, clearly explaining the issues of concern to Washington, and detailing the measures Vietnam has implemented and continues to undertake to address them.

To ensure a sustainable trade balance, he instructed ministries to expedite contract negotiations and finalize them in May 2025 for the import of U.S. goods, including liquefied natural gas (LNG), aircraft, pharmaceuticals, medical devices, and agricultural products.

He asked Vietnamese negotiators to conduct negotiations with calmness, determination, and flexibility, avoiding both perfectionism and haste, while safeguarding national sovereignty, security, and interests, and upholding Vietnam's international commitments.

Chinh also urged relevant agencies to promptly work with the U.S. side on mutual tariff reductions and call for Washington's recognition of Vietnam as a market economy, along with lifting restrictions on high-tech exports from the U.S. to Vietnam, in line with Washington's commitment to supporting an independent, resilient, and prosperous Vietnam.

He noted that Vietnam would continue to revise its legal framework to address U.S. concerns, while ensuring consistency with national sovereignty, international commitments, and the legal systems of both countries.

Specifically, the government has been focusing on updating laws related to intellectual property and copyright protection and streamlining administrative procedures.

The PM directed each relevant ministry to develop specific negotiation content, which will be consolidated into an overall negotiation plan by the Ministry of Industry and Trade.

In a related development, a Vietnamese technical delegation has departed for the U.S. to engage with American counterparts on trade negotiations, Do Ngoc Hung, trade counselor and head of the Vietnam Trade Office in the U.S., told Tuoi Tre (Youth) newspaper.

Hung noted that Vietnam is among the countries prioritized by the U.S. for trade negotiations, alongside the UK, India, Japan, South Korea, and Indonesia.