Vietnam views US pause of reciprocal tariffs as positive step

Spokesperson Hang made the statement in response to a question regarding Vietnam’s comments and upcoming measures following U.S. President Donald Trump’s decision to implement a 90-day pause on reciprocal tariffs for over 75 countries, including Vietnam.

“Guided by the spirit of the Vietnam-U.S. Comprehensive Strategic Partnership and grounded in mutual respect, the two countries will negotiate a reciprocal trade agreement, aiming to reach satisfactory solutions toward fair and sustainable trade that benefits the people and business communities of both countries,” Hang added.

In the early hours of Thursday (Vietnam time), U.S. President Donald Trump announced on Truth Social his decision to immediately jack up the tax rate on Chinese imports to 125 percent.

“Based on the fact that more than 75 countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR [United States Trade Representative], to negotiate a solution to the subjects being discussed relative to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs, and that these countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States.

“I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!”

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, who joined the working delegation led by Deputy Prime Minister Ho Duc Phoc, confirmed to Tuoi Tre (Youth) newspaper that the U.S. had temporarily suspended retaliatory tariffs for 90 days for various countries, including Vietnam.

The U.S. administration also applied a 10-percent retaliatory tariff to all the more than 75 countries during this period.

Tan affirmed that Vietnam will also benefit from the 10-percent tariff rate during this time.

According to the Ministry of Foreign Affairs, Deputy Prime Minister Phoc, as a special envoy of Party General Secretary To Lam, had met with U.S. Trade Representative Jamieson Greer.

At the meeting, Deputy PM Phoc suggested that although the U.S. has decided to postpone the imposition of tariffs for 90 days, the two countries should soon negotiate a bilateral trade agreement to establish a long-term framework for promoting stable and mutually beneficial economic and trade relations, in line with the framework of the comprehensive strategic partnership between the two nations.

Greer shared the reasons and challenges facing the U.S. economy that compelled the Trump administration to implement the recent tariff policies.

He also explained the high reciprocal tariffs imposed by the Trump administration on Vietnam.

Regarding the Vietnamese deputy prime minister’s proposal, the U.S. agreed that both parties should initiate negotiations on a reciprocal trade agreement, which would include arrangements on tariffs. 

He also proposed that representatives from both countries begin exchanges immediately.