Speaking to the press, Mr. Ta Hoang Linh - Director of the Department of Foreign Market Development, Ministry of Industry and Trade - said that the Ministry of Industry and Trade regrets when the US announced the imposition of a 46% tax on all exported goods of Vietnam, effective from April 9.
Vietnam and the US are two complementary economies, the export and foreign trade structure of the two countries does not compete directly but complements each other, in accordance with the internal needs of each country.
"Vietnamese goods exported to the US are mainly competing with third countries, not directly competing with US businesses in the US market. On the contrary, Vietnamese goods exported to the US also create conditions for American consumers to use cheap goods" - Mr. Linh said.
Director of the Department of Foreign Market Development said that the average national tax rate (MFN) that Vietnam applied to the current imported goods is 9.4%. Therefore, the reciprocal tax that the US is expected to apply to Vietnamese goods up to 46% is lack of scientific bases and really unfair, does not reflect Vietnam's goodwill and efforts during the past time in handling the trade deficit between the two countries.
Mr. Ta Hoang Linh said that recently, the Government and ministries and branches have handled a series of difficulties and problems of US businesses in Vietnam, issued a Decree to reduce MFN tax, in which 13 groups of goods with US advantages have benefited. In addition, there are many US projects in Vietnam that are of interest, solving and removing difficulties and obstacles.
"Currently, both sides have space to discuss and negotiate, to reach a mutually beneficial result" - Mr. Linh said.
According to Mr. Linh, this morning, right after the US announced the tax, Minister of Industry and Trade Nguyen Hong Dien issued an official dispatch requesting the US side to temporarily postpone the decision to impose the tax to spend time discussing and finding reasonable solutions for both sides.
We are arranging a phone call between the two Ministers as well as at the technical level with colleagues at the US Trade Representative Agency (USTR) as soon as possible, Mr. Linh informed.
Mr. Linh assessed that in case the two sides cannot find a common voice, this tax will have a certain negative impact on the export growth target. Therefore, in the coming time, it is necessary to closely coordinate between ministries, branches and enterprises to effectively implement the proposed solutions to achieve the export growth target this year.
"Exporting enterprises need to take advantage of the existing strength of 17 free trade agreements with over 60 countries and territories and 70 bilateral cooperation mechanisms to promote the diversification of export markets" - Mr. Linh shared.
