Ministry of Industry and Trade informs about the progress of reciprocal tax negotiations with the United States

At the regular press conference of the Ministry of Industry and Trade held on the afternoon of October 8, a reporter raised a question related to the progress of the reciprocal tax negotiations with the United States: In the early morning of August 1, 2025 (Vietnam time), the White House posted President Donald Trump's Decree on adjusting the reciprocal tax rate, according to which the United States decided to adjust the reciprocal tax rate for 69 countries and territories listed in Appendix I. According to this Appendix, the reciprocal tax rate for Vietnam is reduced from 46% to 20%.

Responding to reporters' questions, the Deputy Minister of Industry and Trade said that recently, Vietnam has been making efforts to promote reciprocal tax negotiations with the United States. "The negotiation delegation between Vietnam and the United States regularly and continuously holds negotiations. Up to now, the United States has had many positive assessments of the results of the reciprocal trade tax negotiations between the two countries. This is a very positive result," Deputy Minister Nguyen Sinh Nhat Tan informed.

Photo caption — Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan talks with reporters at a press conference.

In addition, Deputy Minister Nguyen Sinh Nhat Tan also said that in October and November 2025, the Vietnamese negotiating delegation is expected to continue its working trip to the United States to discuss and implement the next steps towards completing the reciprocal trade agreement on the principles of openness, constructiveness, equality, respect for independence, autonomy, political institutions, mutual benefit and consideration of each other's development level. The two sides will strive to promote stable economic, trade and investment relations, harmonizing interests, commensurate with the Vietnam - US Comprehensive Strategic Partnership.

Also at the regular press conference, Mr. Bui Huy Son - Director of the Department of Financial Planning and Enterprise Management, Ministry of Industry and Trade said that import and export continued to be a bright spot of the economy : Total import and export turnover in the first 9 months reached 680.6 billion USD, up 17.3% over the same period last year.

Of which, exports in the third quarter of 2025 reached 128.57 billion USD, up 18.4% over the same period last year and up 9.6% over the second quarter of 2025. In the first 9 months, the total export turnover of goods reached 348.74 billion USD, up 16.0% over the same period last year, far exceeding the 12% growth target set for the whole year.

In terms of export market structure, the United States is still our country's largest export market (reaching 112.8 billion USD, up 27.7%); followed by China (reaching 49.6 billion USD, up 11.3%); EU (reaching 41.7 billion USD, up 9.3%); ASEAN (reaching 28.5 billion USD, up 2.9%) and Japan (reaching 19.7 billion USD, up 9%).

According to Director Bui Huy Son, the Ministry will continue to closely monitor developments in the US's tariff policy and proactively coordinate with relevant agencies on both sides to discuss, clarify and handle arising issues, limiting the risk of applying more unfavorable measures to Vietnamese goods.

In addition, the Ministry of Industry and Trade will also focus on completing the launch of negotiations on two FTAs between Vietnam and Mercosur and the Gulf Cooperation Council (GCC) in the fourth quarter of 2025; promoting the early launch of negotiations with Pakistan to expand opportunities in export markets; and soon concluding negotiations on the FTA between Vietnam and the EFTA bloc in 2025.

At the same time, closely monitor to promptly overcome the export limitations of domestic enterprises to support exports, reduce dependence on FDI. Accordingly, continue to accompany enterprises in removing difficulties, through regularly organizing dialogues, working with industry associations and localities to promptly grasp the situation, thereby advising the Government to issue appropriate support policies.

On the other hand, the Ministry of Industry and Trade also strengthens trade promotion activities, connects supply and demand, and promotes products to help businesses expand access to new customers, while strengthening trust with traditional partners in the US market. Strengthening the enforcement of regulations on goods origin through inspection, supervision, licensing and handling of violations; strengthening state management and combating the evasion of trade defense measures and origin fraud.

Source: https://baotintuc.vn/kinh-te/bo-cong-thuong-thong-tin-ve-tien-trinh-dam-phan-thue-doi-ung-voi-hoa-ky-20251008180517822.htm