As soon as the US announced a 46% tariff on goods to be imported from Vietnam, Minister of Industry and Trade Nguyen Hong Dien sent a diplomatic note requesting US authorities delay the imposition of the tariff  to allow for a constructive dialogue to seek a reasonable solution for both sides, according to Director of the Ministry of Industry and Trade (MoIT)’s Department of Foreign Market Development Ta Hoang Linh.

Speaking to the press in Hanoi on April 3, Mr. Linh said the MoIT would arrange a ministerial phone call and technical talks with the Office of the US Trade Representative (USTR) as soon as possible.

Highlighting the complementarity of the two economies, including their export and foreign trade structures, he noted that Vietnam’s exports to the US primarily compete with third-country goods, not US products, while providing US consumers with affordable, quality options.

The most-favored-nation (MFN) tariff rates Vietnam is imposing on imports from the US average 9.4%, so the reciprocal tariff of up to 46% that the US plans to levy on goods to be imported from Vietnam lack scientific basis and unfair, not reflecting Vietnam's goodwill and efforts in addressing trade imbalance between the two countries over the recent past, he said.

The Vietnamese Government, ministries, and sectors have recently taken proactive steps to address many problems facing US companies operating in Vietnam, including a decree reducing the MFN tax rates which benefits 13 categories of US goods. Besides, a large number of US investment projects have had their difficulties tackled, he said.

According to the White House, the reciprocal tariffs on trade partners of the US aim to address the injustices of global trade, reshore manufacturing, strengthen national security, and boost economic growth, with the tariffs remaining in place until trade deficits and perceived unfair practices are resolved. Therefore, the MoIT holds that the two sides still have room to negotiate to achieve a mutually beneficial outcome, according to Mr. Linh.