The Vietnamese government declared on Friday that it has officially urged the United States to postpone the implementation of newly proposed 46% U.S. tariffs on Vietnamese goods by a period of one to three months. The request is part of Vietnam’s efforts to negotiate a more advantageous resolution and reduce the economic impact of the upcoming tariffs, which are scheduled to be implemented on April 9th.
In an official statement, the Vietnamese government emphasized its commitment to resolving the trade imbalance with the United States. Deputy Prime Minister Ho Duc Phoc stressed Vietnam’s ongoing cooperation with the U.S. to ensure fair tariffs, prevent goods transshipment, and promote mutually beneficial trade relations.
The country has expedited agreements for U.S. goods, including aircraft and liquefied petroleum gas (LPG), while facilitating smoother paths for American trade and investment.
Trump’s announcement of a 46% U.S. tariff two days ago has already caused turbulence in Vietnam’s financial markets. The nation’s stock index has plummeted by 8.1% since the news broke, reflecting concerns about the potential repercussions for Vietnamese businesses and exports.
Phoc stated Vietnam’s intention to increase imports of U.S. raw materials and equipment, pointing out that the goods of both nations complement rather than compete with each other. He reiterated Vietnam’s strong stance against trade fraud, assuring that the country will not act as a transshipment hub, and promised adherence to international agreements to protect the country’s economy, partnership, and global supply chains.
He also advised Vietnamese exporters to maintain stable pricing during the negotiation period and to adopt proactive strategies to safeguard their market share in the U.S.
The approach aligns with Vietnam’s previous efforts to address its $123 billion trade surplus with the United States last year, including reducing tariffs on certain American imports.
The Deputy Prime Minister appealed to the American Chamber of Commerce (AmCham) in Vietnam and the US-ASEAN Business Council to relay the Vietnamese government and business community’s goodwill to Trump’s administration, aiming to facilitate productive discussions that strengthen the Vietnam-US partnership.
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