What Do Foreign Media Say About Vietnam Being One of the Six Countries Prioritized by the US for Tax Negotiations?

11 May, 2025

Vietnam and the US are set to hold their first bilateral trade negotiations on May 7th, according to The Star, Malaysia. This was announced by Prime Minister Pham Minh Chinh during the 9th session of the 15th National Assembly.

In his report on the socio-economic situation in the first months of 2025, Prime Minister Pham Minh Chinh noted the complex and unpredictable global developments, especially the US’s sudden announcement of reciprocal high tariffs, which negatively impacted global economic growth and disrupted international trade and investment flows.

Traditional and non-traditional security challenges have also become more serious and difficult to manage. On April 2nd, the US announced a comprehensive 10% tariff policy on all nations, with a very high reciprocal tariff rate for Vietnam of 46%. A week later, the US declared a 90-day pause on the tariff plan, excluding China.

Vietnam has responded calmly and proactively, implementing timely and flexible measures, according to the country’s leader. Vietnam is one of six countries – the UK, India, South Korea, Japan, Vietnam, and Indonesia – that the US has prioritized for negotiations.

Prime Minister Pham Minh Chinh emphasized the government’s close direction of the negotiating delegation and relevant ministries in monitoring developments and quickly finalizing proposals for negotiations with the US in a spirit of “harmonizing interests and sharing risks.”

Vietnam is one of six countries prioritized by the US for negotiations.

As the first leader to have a phone call with US President Donald Trump following the new tariff announcement, General Secretary To Lam affirmed Vietnam’s willingness to reduce tariffs on US imports to 0% and proposed that the US do the same for Vietnamese goods.

Vietnam Maintains 8% Growth Target

Tech in Asia also reported on Prime Minister Pham Minh Chinh’s speech, highlighting his reaffirmation of Vietnam’s economic growth target of at least 8% in 2025, despite global economic pressures and potential US tariffs. The Prime Minister acknowledged the unprecedented challenges posed by recent global economic changes.

He emphasized the government’s commitment to achieving double-digit economic growth in the coming years. Since the market reforms (“Đổi Mới”) in 1986, Vietnam has expanded its diplomatic and trade relations from a handful of countries to nearly 170, creating a diverse international investment portfolio that has boosted economic resilience.

Vietnam’s diplomatic balance is evident in its simultaneous engagement with major powers, increasing trade with the US from $451 million in 1995 to over $149 billion in 2024 while maintaining strong ties with China, its largest bilateral trading partner.

Vietnam’s diplomatic strategy has supported its economic transformation and successful poverty reduction, with less than 4% of the population living below the poverty line of $3.65 per day in 2023. Trading View further emphasized Vietnam’s positive growth figures, with April 2025 exports up 19.8% year-on-year and industrial production up 8.9%.

April 2025 exports reached $37.45 billion, a 19.8% increase year-on-year.