Immediate Response to US Tariffs

In a crucial meeting on April 10, Prime Minister Chinh emphasized the urgency of forming a negotiating team to engage with the U.S. on a balanced and sustainable trade agreement. This move comes after the U.S. announced a 10% tariff on various trading partners, including Vietnam, with a 90-day delay.

Strategic Trade Negotiations

The Prime Minister highlighted the importance of these negotiations within the broader context of Vietnam-U.S. relations and Vietnam's global trade engagements. He pointed out that this situation presents an opportunity for Vietnam to restructure its economy, diversify markets, and strengthen supply chains for rapid and sustainable growth.

Economic Adjustments and Support

Chinh instructed ministries and agencies to consider increasing purchases of U.S. products like LNG and aircraft, and to address concerns of U.S. businesses. He also stressed the need for macroeconomic stability, prudent fiscal policies, and support for businesses through credit expansion and cost reductions.

Enhancing Business Environment

Improving the investment climate, supporting companies in adapting to new conditions, and leveraging free trade agreements were also among the key points. The Prime Minister called for market expansion and diversification of products and supply chains to mitigate the impact of tariffs.