US counterpart tax, simply understood as the US will impose an import tax on goods of a country equal to the tax rate that the country is imposing on US goods. This policy also targets countries that apply the value-added tax (VAT) system.
The problem is, how will Vietnam - the country that is applying a 10% VAT (currently 8% for some industries to support businesses and people) be affected? The US is Vietnam's 5th largest import market with 5 groups of imported goods with a turnover of over 1 billion USD. Vietnam is the 9th largest export market of agricultural products in the US.
Information from the Ministry of Industry and Trade quoted Ambassador Marc E. Knapper in a meeting with Minister Nguyen Hong Dien as saying: "The taxation in the past time has not been aimed at Vietnam".
This is good news, but economic expert Dr. Le Dang Doanh said, "do not be subjective" because when goods from other countries are subject to higher taxes when entering the US, similar goods from Vietnam sold to this market may also be at risk of being taxed in the future. That is not to mention that the price of goods in the US will increase in the coming time, affecting the number of orders in Vietnam.
The Ministry of Industry and Trade also made comments on unpredictable fluctuations affecting Vietnam's import and export activities in 2025, including new US tariff policies. However, the export growth target of 12% remained unchanged. Because this is a very important goal in completing the set GDP growth of 8%, as a springboard for double-digit growth in the following years.
Proactively responding to fluctuations in general tariff policies and tax policies from the US under US President Donald Trump is necessary and urgent.
In terms of policy, build policies and frameworks to facilitate Vietnamese enterprises to penetrate new markets, supporting enterprises to increase the value-added content of export products. At the same time, it is necessary to continue to maintain low lending interest rates and stabilize exchange rates.
On the business side, it is necessary to invest in technology and improve product quality to increase value and reduce the impact of tariffs. In particular, it is necessary to avoid commercial fraud.
Proactive response not only helps Vietnamese exports find stability and growth, but this will also be an opportunity for Vietnamese enterprises to take another step in production activities, increase value to promptly adapt to fluctuations in the world.
