The government has set up a rapid response team when America imposes tariffs on Vietnam.

Prime Minister Phạm Minh Chính requested the immediate establishment of a rapid response team to proactively address the situation when America imposes countervailing duties of up to 46% on Vietnam. On the morning of April 3, Prime Minister Pham Minh Chinh chaired a meeting with various ministries after America's announcement of new tariff levels on imports from Vietnam. The meeting included the heads of the Ministries of Finance, Industry and Trade, Agriculture and Rural Development, Science and Technology, the State Bank, along with many other agencies. "Vietnam wants America to have a policy that is more in line with the good relations between the two countries," the Prime Minister said, adding that this is consistent with the conditions and circumstances of Vietnam as a developing country that must continue to overcome the heavy and prolonged consequences of many years of war. The corresponding import tax applied by America affects more than 180 trade partners. Accordingly, about half of the economies are subject to a common tax rate of 10%, effective from April 5. Major trade partners of America will face a higher rate, up to 50%, effective from April 9. In which, Vietnam bears a rate of 46%, ranking among the countries with the highest tariffs along with China, Cambodia, Indonesia, Myanmar. The Prime Minister requested ministries and sectors to "have proactive and flexible responses to all developments." This is to help Vietnam continue to overcome difficulties and shocks from outside, as experienced during the context of the Covid-19 pandemic, disruptions in the supply chain... The government leader requested the immediate establishment of a rapid response team on this issue, headed by Deputy Prime Minister Bui Thanh Son. He assigned Deputy Prime Minister Ho Duc Phoc to direct the ministries and agencies, noting opinions from businesses, especially large export units. Prime Minister Pham Minh Chinh emphasized that the current situation shows that trade competition is intense, complex, and unpredictable. However, he believes that this is also an opportunity to restructure the economy towards rapid but sustainable development, relying on technology and innovation. According to the Prime Minister, Vietnam has the opportunity to build an independent and self-reliant economy associated with deep and effective international integration. Along with that, Vietnam can expand and diversify products, supply chains, and promote and tap into the localized domestic market. "The goal of GDP growth in 2025 of 8% or more remains unchanged," he added. Mr. Đỗ Ngọc Hưng, Trade Counselor of Vietnam in America, said that the groups of goods affected by the recently announced tax policy of America include aquatic products, plastics, rubber, wood, paper, pulp, textiles, footwear, machinery, equipment, components, machinery and equipment, electronics... Businesses are concerned that goods will face "very severe" impacts as America imposes countervailing duties on Vietnam of up to 46% - classified among countries with high tax rates. This reduces the competitiveness of Vietnamese goods compared to products from other countries. According to data from the Customs Department, in 2024 Vietnam exported goods worth 119.5 billion USD to America and imported 15.1 billion USD from this market. There are 15 billion USD export items, among which 3 dominant groups include computers - components with 23.2 billion USD; machinery and equipment and textiles at 22 billion and 16.2 billion USD, respectively. Phones, wood, or footwear are also categories that bring significant value, ranging from 8.3 to 9.8 billion USD. Agricultural products also make important contributions, such as cashew nuts and seafood at 1.15 billion and 1.83 billion USD respectively, or coffee nearly 323 million USD. The tax rate America applies to economies

In this context, Mr. Đỗ Ngọc Hưng believes that Vietnam needs to effectively implement cooperative mechanisms and bilateral agreements with America such as the Vietnam - America Trade and Investment Framework Agreement (TIFA) and the Vietnam - America Bilateral Trade Agreement (BTA). Vietnam also needs to specify the increase in imports of some strong products from America that are in line with domestic demand. Along with that, according to Mr. Hung, Vietnam needs to increase the attraction of American enterprises to invest in strategic sectors and products where they have advantages and the two countries have demand. This is aimed at increasing the content and proportion of American origin components in the products. U.S. Treasury Secretary Scott Bessent previously told Republican senators in the Senate that the countervailing tax would be the "ceiling" that America applies to other countries. This level could be reduced if trading partners meet the requirements of the Trump administration. However, some products from countries will not be subject to countervailing duties. For example, aluminum, steel, cars, and car parts that have already been subjected to a 25% tariff by America will continue to apply this rate. Similarly, gold, copper, pharmaceuticals, semiconductor products, wood, and certain types of energy and minerals that are not available in America will also not be subject to countervailing duties.