Continuing diplomatic measures on different channels
At the meeting, members of the Working Group updated the situation with new developments and discussed solutions after the US side announced the imposition of countervailing tax rates on goods from many countries, including Vietnam.
After listening to the opinions of ministries, branches and agencies, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son requested members of the Working Group to continue to perform well the assigned tasks. Continue diplomatic measures through different channels to influence US agencies to find solutions suitable to Vietnam's conditions and circumstances and the Comprehensive Strategic Partnership between the two countries.
Regarding taxes, the Deputy Prime Minister assigned the Ministry of Finance to continue reviewing and finalizing the plan to reduce import taxes. Regarding non-tax issues, ministries and branches should review legal regulations and any unreasonable content, including those for Vietnamese enterprises, and consider eliminating them or propose to competent authorities to eliminate them.
Regarding the origin of goods, the Deputy Prime Minister requested the Ministry of Industry and Trade to review and strictly control the origin of goods, not to let unfortunate incidents happen; the Ministry of Finance increased customs information exchange with the US side on trade defense and tax evasion measures.
Regarding the issue of copyright and intellectual property, the Deputy Prime Minister assigned the Ministry of Science and Technology to review legal regulations and address US concerns.
The Ministry of Finance coordinates with ministries and branches in developing bilateral agreements with the US towards upgrading the bilateral trade agreement (BTA), including adding content on tax and intellectual property.
Regarding business support, the Deputy Prime Minister assigned the Ministry of Finance to develop a comprehensive plan to support businesses.
The Ministry of Industry and Trade will increase promotion and dissemination of the contents of 17 free trade agreements, further promote trade to new markets and support businesses to adapt to new markets, promptly inform businesses about the policies of export markets.
Proposing the US side to postpone the imposition of tariffs on Vietnam for at least 45 days
Previously, on the evening of April 7, Politburo member and Prime Minister Pham Minh Chinh chaired a meeting with ministries and branches to update the situation with new developments, continuing to discuss solutions after the US side has just announced the imposition of countervailing taxes on goods from many countries, including Vietnam.
Regarding the solution, the Prime Minister stated that the US side should postpone the imposition of tariffs on Vietnam for at least 45 days to negotiate, prepare and transition status; at the same time, approach and negotiate with the US side to reach a bilateral agreement, towards a sustainable trade balance, beneficial to both sides, harmonious benefits, shared risks, beneficial to consumers of both sides, not affecting Vietnam's international commitments.
Regarding trade solutions, continuing to buy more US goods with strengths, Vietnam has demand, including goods related to security and defense; promoting early delivery with commercial aircraft contracts.
Review and continue to thoroughly and effectively resolve the concerns of the US side. Handling issues related to monetary policy well according to Vietnamese law and international practices to stabilize interest rates, stabilize exchange rates and balance, in accordance with Vietnam's economy.
Regarding non-tax issues, the Government Office is assigned to review issues of concern to the US side, assign ministries and branches to study and respond appropriately and closely to the actual situation.
Regarding business support, the Prime Minister directed the expansion of preferential credit packages for aquatic products and researching preferential credit packages for other fields and items; Continuing to relax debts, reduce lending rates with goods that can be affected by US tax policies; postponing, expanding taxes and rent for businesses in difficult times; Review and refund value added tax towards reducing administrative procedures and reducing troubles; Research and propose competent authorities for tax reduction, immediate value added tax.
Continue diplomatic measures through different channels to influence US agencies to have solutions suitable to Vietnam's conditions and circumstances and the Comprehensive Strategic Partnership between the two countries.
