The Vietnam Chamber of Commerce and Industry (VCCI) and the American Chamber of Commerce in Hanoi (AmCham) have jointly proposed US President Donald Trump to temporarily suspend the imposition of reciprocal tariffs on Vietnamese exports.
According to VCCI, in their joint letter sent to the US Secretary of Commerce, VCCI and AmCham called on the Trump administration to temporarily suspend the imposition of tariffs to avoid disrupting business operations, negatively affecting current trade transactions, and disturbing the logistics chain.
As two organisations representing the business community of Vietnam and the US, VCCI and AmCham hope that the governments of both countries will engage in open dialogues and work together to develop a constructive programme aimed at reducing the US trade deficit with Vietnam, with the goal of improving living standards and promoting mutual prosperity for both nations.
In the letter, the leaders of the two organisations expressed their deep concerns over President Trump's statement regarding the imposition of reciprocal tariffs of up to 46% on Vietnamese goods to be imported by the US, stressing that if implemented, these unexpectedly high new tariffs will negatively impact the operations of member businesses and consumers, as well as the bilateral trade ties between the two countries.
The letter stated that reducing taxes on imported products into Vietnam, as well as on goods serving American consumers, is a key factor in supporting businesses, the economy, and consumers in the US, while increasing taxes will not yield similar results.
VCCI and AmCham believe that the Vietnamese Government is seriously implementing positive measures, demonstrating a strong commitment to improving the trade balance with the US, while removing barriers faced by US businesses and investors.
The letter also mentioned that, in the past week, Vietnam reduced taxes on 13 groups of goods, bringing practical benefits to US exporters. Vietnamese leaders were also committed to facilitating the import of more products from the US.
VCCI and AmCham pledged to continue to work closely with relevant agencies to address challenges in areas of digital trade, pharmaceutical imports, intellectual property rights, customs and tax procedures, government procurement, data management and security, and other related fields.
The letter also affirmed that Vietnam has become one of the fastest-growing export markets of the US. With a rapidly expanding middle class in Vietnam, opportunities for American businesses operating in agriculture, aviation, energy, equipment, pharmaceuticals, technology, and more, are immense, contributing to job creation and prosperity in the US. It stressed that the two economies are highly complementary, rather than directly competitive.
In recent days, VCCI has been working with relevant agencies to take supportive actions helping the business community respond to the US’s decision to impose reciprocal tariffs on goods exported to the country.
VCCI co-signed the letter with AmCham to the US Department of Commerce (DOC), while also sending separate letters to the DOC, the US Trade Representative (USTR), the US Chamber of Commerce, and other relevant agencies, regarding this matter./.
