Business community asks U.S. to delay implementing reciprocal tariffs on Viet Nam

The two organizations, which represent the business communities of both countries,also encouraged both governments to engage in dialogue to create a constructive program tohelp reduce America's trade deficit with Viet Nam in a way that boosts living standards andcreates prosperity in both countries.

The letter, signed by the leaders of both organizations, expressed deep concern about President Trump’s reciprocal tariff announcement and stated that, if implemented, the shockingly high new tariffs will negatively affect our members' businesses and customers, and the broader commercial relationship between our two countries. “Lower tariffs for products coming into Viet Nam, and for products reaching the American consumer is what will help U.S. companies, the economy, and consumers. Higher tariffs will not.”

VCCI and AmCham believe that the government of Viet Nam is serious about taking proactive steps to demonstrate a real commitment to addressing the trade imbalance while solving burdens and barriers faced by American companies and investors.  The letter explained that VietNam reduced tariffs on thirteen product categories last week that directly benefit U.S. exporters.

Vietnamese leaders have also pledged to facilitate the purchase of more American products, and the two business organizations continue working with government authorities on resolving burdens including restrictions and inconsistent regulations for digital trade and broadcast, pharmaceutical imports, intellectual property rights, customs and tax procedures, procurement,data management and security, and more.

The letter said that Viet Nam has developed into one of America’s fastest growing export markets and as the middle class here grows, there are great opportunities for U.S. agriculture, aircraft, energy, equipment, medicines, technology, and many other sectors that create wealth and jobsin America’s heartland. The letter noted that the Vietnamese and American economies are complementary rather than directly competitive.

The two organizations told the Commerce Secretary that they support the agreement proposed in last Friday’s telephone conversation between President Trump and General Secretary Lam toremove tariffs and other trade barriers between our two nations. 

A fast and fair agreement would add certainty for businesses and would help to rectify the trade imbalance between the two countries in a manner that benefits both countries./.