Vietnam Reviews Import Duties on U.S. Goods Amid Trade Tensions

Vietnam is proactively reassessing its import duties on U.S. goods, including liquefied natural gas, agriculture, and high-tech products, in an effort to alleviate rising trade tensions and prevent potential reciprocal tariffs from the U.S. Prime Minister Pham Minh Chinh conveyed this strategy to U.S. Ambassador Marc Knapper, highlighting Vietnam's intention to increase imports of essential American products. A delegation led by Vietnam's trade minister is currently visiting the U.S. to engage with trade and energy officials to finalize agreements that could enhance trade relations. The Vietnamese government aims to solidify its economic ties with the U.S., particularly in sectors crucial for its growth, while navigating challenges posed by U.S. export controls. This move reflects Vietnam's broader strategy to adapt to global economic shifts and reinforce its trade policies amid strategic competition and emerging financial risks. Additionally, the Ministry of Finance has been directed to review tax policies to strengthen Vietnam's economic standing in its key partnerships, including with the U.S.