On April 17th, the Ministry of Industry and Trade hosted a conference titled “Supporting Businesses to Overcome Challenges in the Context of US Countervailing Duties on Vietnamese Exports.” The event was attended by representatives from various ministries, sectors, and prominent businesses such as Vingroup, VinFast, THACO, TC Group, Vinachem, FPT, Apple Vietnam, and Intel Products Vietnam.
Mr. Nguyen Anh Son, Director of the Import-Export Department, presented a report at the conference, assessing the rapidly evolving and unpredictable nature of international trade, especially with the US’s announcement of new tariff policies affecting multiple countries, including Vietnam. The US is currently Vietnam’s largest export market, accounting for 29.5% of its total merchandise exports, while Vietnam ranks as the US’s 8th largest trading partner.
Mr. Son highlighted that the additional tariffs will have a significant negative impact on most of Vietnam’s key export sectors to the US. This poses a substantial challenge to Vietnamese exporters in terms of reduced profits, shrinking orders and market share, supply chain disruptions, and increased inventory as US partners may seek alternative sources from countries not subject to high tariffs.
In response to this situation, on April 12, 2025, the Prime Minister signed Decision No. 753/QD-TTg, establishing a Government Negotiation Delegation on trade issues with the US, led by the Minister of Industry and Trade. On April 14, 2025, the Minister of Industry and Trade sent an official communiqué to the US Trade Representative and the US Secretary of the Treasury, notifying them of Vietnam’s negotiation team and requesting confirmation of the US negotiation team and schedule.
During the conference, delegates from industry associations, businesses, and relevant ministries and sectors engaged in discussions, evaluating Vietnam’s overall import-export situation and the export performance of certain products to the US. They analyzed the policies of major global markets and provided updates on the US market. Additionally, they forecasted upcoming challenges and difficulties for import-export activities and proposed negotiation strategies on trade issues with the US, along with recommending solutions to support businesses in proactively adapting to the new environment to sustain and boost production and exports, thereby promoting sustainable growth.
Ministry of Industry and Trade Conference on Supporting Businesses amid US Countervailing Duties
In his concluding remarks, the Minister of Industry and Trade acknowledged the challenges, obstacles, and suggestions presented by the industry associations and businesses. He emphasized that the difficulties arising from US countervailing duties present an opportunity for Vietnam to proactively restructure its economy and businesses, leading to positive long-term changes. To achieve this, close coordination is necessary between businesses, industry associations, and government agencies at all levels.
The Minister proposed nine task groups and solutions for industry associations and eight task groups for exporting businesses. He also requested relevant ministries and sectors to focus on five key solutions to promptly support businesses in overcoming challenges and responding flexibly and effectively to changes in import policies from major countries, particularly the US, to maintain sustainable growth.
The Minister urged industry associations and exporting businesses to continue submitting their recommendations and proposals to the Ministry of Industry and Trade by April 20, 2025, for review and resolution within the Ministry’s authority or forwarding to relevant ministries and sectors. He assured that the Ministry would report to the Government and the Prime Minister for guidance on issues beyond their authority, aiming to help associations and businesses navigate the new situation effectively and continue their growth trajectory, contributing positively to the country’s development.
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