Tag: tariff

Deputy Prime Minister Ho Duc Phoc, Special Envoy of General Secretary To Lam, met with US Secretary of the Treasury Scott Bessent on April 10 as part of the former's working visit to the US.

Focus to be made on issues relating to product origins, non-tariff barriers and intellectual property regulations.

The reciprocal trade agreement would include agreements on tariffs, according to US Trade Representative Jamieson Greer.

The move made following the US Administration’s recent announcement of imposing reciprocal tariffs on imported goods from 180 trade partners.

The US Administration freshly announced a 46% tariff on goods to be imported from Vietnam, effective from April 9.

Peru has recently approved the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), under which the country commits to eliminating 81 per cent of tariff lines once the agreement takes effect, equivalent to 62 per cent of import turnover from Vietnam, and eliminating 99.4 per cent of tariff lines within 17 years. After the effective date, goods exported to Peru with a tariff of 0 per cent will include outdoor furniture, agricultural products such as cashew nuts, tea, pepper, vegetables, and certain types of coffee, among others. Rates on textiles, garments and footwear will be cut to 0 per cent in the 16th year under a roadmap. Key export items include phones and electronic components, computers and electronic products, footwear, clinker and cement, textiles, and fisheries.