(VOVWORLD) - The government is rallying domestic and overseas stakeholders to jointly implement rapid and long-term trade measures in responding to the US tariff hike of up to 46%.
 Prime Minister chairs a meeting with leaders of ministries, localities, business associations and Vietnamese diplomatic missions abroad. (photo: VOV) |
Prime Minister Pham Minh Chinh on Monday evening chaired a hybrid conference with leaders of ministries, localities, business associations and Vietnamese diplomatic missions abroad to discuss measures to proactively adapt to changes in international trade.
Tariffs of up to 46% will have a clear impact on Vietnam’s exports and directly affect a significant number of workers and businesses. The Prime Minister noted that Vietnam has recently carried out a wide range of political, diplomatic, economic and trade measures to step up cooperation, adapt to developments and minimise the negative impacts of policy adjustments in thre world.
“Our economy is still in a transitional phase. Vietnam remains a developing country with a modest economic scale and limited resilience, especially to external shocks. Therefore, any fluctuation also presents an opportunity. Despite the challenges, this is a chance for us to restructure our economy, to rise stronger, become more self-reliant, and grow more mature," said Mr. Chinh.
The PM stressed the importance of several key tasks, including sustaining growth momentum and promoting new growth drivers; preparing response measures for all potential tariff scenarios; strengthening external relations and international integration, continue to effectively leverage existing and newly signed free trade agreements (FTAs); and promote the signing of new FTAs and investment protection agreements to diversify markets and supply chains.