Vietnam PM calls for thorough preparation for tax negotiations with US

He chaired a meeting recently with various ministries and agencies to assess the current situation and discuss solutions.

Vietnamese Prime Minister Pham Minh Chinh has called for thorough preparation for tax negotiations with the US, stressing on the need for a swift, flexible approach that protects domestic interests and restructures export dynamics.
The country has ordered enterprises to purchase gas, Boeing aircraft and transport planes from the US to help balance trade, he said at a government meeting.

The country has ordered enterprises to purchase gas, Boeing aircraft and transport planes from the United states to help balance trade, he said.

He called for making future negotiations with the United States flexible, creative and assertive, drawing on previous experience to navigate this crucial period effectively, domestic media outlets reported.

Regarding technical matters related to the US tariffs, he asked the ministry of finance to lead the analysis, while other ministries and agencies should prepare solutions for non-tariff issues.

“We must diversify markets, products, and supply chains, focus on improving product quality and reducing costs for greater competitiveness, and explore high-tech products as well as green development in line with global trends and the circular economy. This is also a chance to restructure businesses. Along with active negotiations, we must proactively restructure Vietnam’s export drivers and business models,” he added.

Fibre2Fashion News Desk (DS)