Government proactively prepares for US tax policy impact: Deputy Minister of Industry and Trade
(VOVWORLD) - The Government has anticipated US tax policies and developed response measures, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said at a regular government press conference in Hanoi on Wednesday.
 Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan speaks at a regular government press conference in Hanoi on March 5, 2025. (Photo: VGP/Nhat Bac) |
Discussing the potential effects of President Donald Trump’s trade policies on Vietnam’s exports, Deputy Minister Tan said while the new tariffs are levied on global imports, their impact varies by product and country.
“Vietnam is not exempt from these impacts, but some countries are affected more severely. The Government is scheduled to discuss key solutions this month.”
The Minister of Industry and Trade is set to meet the US Trade Representative next week to further strengthen the already fruitful Vietnam-US ties.
Deputy Minister Tan emphasized that Vietnam and the US have complementary economies. The trade imbalance is due to structural differences in exports and foreign trade. Vietnamese products primarily compete with goods from third countries rather than US businesses, he said, adding that Vietnam’s exports provide affordable options for American consumers.