PM orders rapid response team on US reciprocal tariffs

VOV.VN - Prime Minister Pham Minh Chinh has directed comprehensive, balanced, and effective measures, both immediate and long-term in response to the US' reciprocal tariffs with a view to promoting stable and sustainable trade ties while creating favorable conditions for investors.

At a government meeting on April 3 with key ministries and agencies, PM Chinh emphasized that Vietnam must remain proactive, flexible, and timely in its response to any developments. He noted that global trade competition is becoming increasingly intense, complex, and unpredictable. In recent years, Vietnam has implemented a range of political, diplomatic, economic, and people-to-people exchange measures to navigate these challenges.

Vietnam expects the US to adopt policies that reflect the strong bilateral relationship, the aspirations of both nations’ people, and Vietnam’s developmental realities. As a developing country still dealing with long-term post-war consequences, Vietnam seeks fair and appropriate consideration in trade policies.

Looking ahead, the Vietnamese cabinet leader urged ministries and agencies to remain composed, decisive, and adaptable to external shocks, just as they have managed past challenges such as the pandemic, global conflicts, and supply chain disruptions. He called for coordinated actions to safeguard legitimate interests and support investors.

"We must always be prepared for unexpected challenges and adapt accordingly. There is no alternative but to diversify markets, products, and supply chains, and we must act swiftly," he stressed.

The Government chief ordered the immediate formation of a rapid response team led by Deputy Prime Minister Bui Thanh Son. Deputy Prime Minister Ho Duc Phoc was tasked with overseeing ministries' engagement with businesses, particularly major exporters, to gather their opinions.

He underlined that this situation presents an opportunity to demonstrate Vietnam’s resilience, restructure the economy toward sustainable development, accelerate green and digital transformation, and enhance technological innovation. It is also a chance to strengthen economic self-reliance while pursuing deep and effective international integration, boosting market expansion, and improving domestic supply chains. Chinh also called for reviewing and refining policies and enhancing high-quality workforce training.

The PM stressed the importance of medium-term public investment, ensuring that approved projects are implemented promptly to maximize resources. Priority will be given to expressway projects, particularly the East-West corridor, as well as security and defence initiatives. He also assigned local administration responsibility for managing roads within their jurisdictions.

Reaffirming Vietnam’s growth ambitions, the Government chief underscored determination to achieve a GDP growth target of at least 8% or beyond in 2025, as outlined in the National Assembly’s resolution.

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Vietnam, US boost agricultural trade

With complementary agricultural products, agricultural trade between Vietnam and the US is expected to grow further, heard a working session between Minister of Agriculture and Environment Do Duc Duy and US Ambassador to Vietnam Marc Knapper in Hanoi on March 26.

 

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