On August 7, the Government Portal reported that since the end of April 2025, Vietnam and the US have organized many counter- trade negotiation sessions at both the technical and ministerial levels.
During the negotiations, Vietnam and the US focused on discussing and achieving many advances in issues such as tariffs, rules of origin, customs, agriculture, non-tax measures, digital trade, services and investment, intellectual property, sustainable development, supply chains, trade cooperation, etc.
In the early morning of August 1 (Vietnam time), the White House published President Donald Trump's decree on adjusting the counterpart tax rate, accordingly the US decided to adjust the counterpart tax rate for 69 countries and territories listed in Appendix I. According to this appendix, the counterpart tax rate for Vietnam decreased from 46% to 20%.
This is considered a positive signal affirming Vietnam's negotiating position as it is behind only a few countries in reaching a significant tax reduction agreement with the US.
In the coming time, the two sides will continue to discuss and implement further work towards completing the agreement on counter- trade on the principle of openness, construction, equality, respect for independence, self-reliance, political institutions, mutual benefit and consider each other's level of development.
The two sides will also strive to promote stable economic, trade and investment relations, harmonizing benefits, commensurate with the comprehensive strategic partnership between Vietnam and the US.
Information at the regular Government meeting in July, held on August 7, Minister of Industry and Trade Nguyen Hong Dien said that the Ministry of Industry and Trade has promptly submitted to the Prime Minister a task group assigned to ministries and branches to effectively adapt to this tariff policy.
That is to continue implementing technical negotiations to strengthen the formal agreement. This will be implemented next week.
The Ministry of Finance coordinates with relevant ministries and branches to assess the impact of tax rates on Vietnam to propose tasks, solutions and mechanisms and policies to effectively respond to this policy.
Requesting provinces, ministries and relevant sectors to urgently complete the removal of obstacles for projects under renovation according to the plan.
Assign the Ministry of Industry and Trade to develop and implement a plan to implement a trade agreement with the US.
This includes improving the investment and business environment in Vietnam; supporting domestic enterprises to expand trade growth momentum, export markets; improving the capacity and consumption capabilities of the economy and Vietnamese enterprises; developing projects and policies to develop supporting technologies; maximizing on-site resources; and promoting the production of goods entitled to a tax rate of 0%.
All of these are being implemented and are expected to be submitted to the Government today (August 7) and tomorrow to collect opinions from ministries, branches and agencies.
Relevant ministries, branches and localities coordinate with the Ministry of Industry and Trade in developing a plan to implement a trade agreement with the US; proactively find out any problems arising in the implementation process and promptly report to competent authorities for resolution.
