Vietnam needs to diversify its markets, products, and supply chains to minimize negative impacts from external shocks and move toward sustainable export growth.
Vietnam and the U.S. to Continue Constructive Dialogue
Table of Contents
On the morning of April 4, responding to reporters about the U.S. decision to impose countervailing tariffs on Vietnamese exports, Foreign Ministry Spokesperson Pham Thu Hang expressed regret, stating:
“Vietnam regrets the U.S. decision to impose countervailing tariffs of up to 46% on Vietnamese exports to the U.S. market.”
According to Ms. Hang, the U.S. decision does not reflect the mutually beneficial economic–trade cooperation between the two countries, nor the spirit of the Comprehensive Strategic Partnership for Peace, Cooperation, and Sustainable Development. If implemented, this measure could negatively affect bilateral trade relations and the interests of both countries’ businesses and consumers.
Vietnam has been actively engaging with the U.S. to resolve trade issues and promote fair, balanced, and sustainable trade cooperation. The spokesperson affirmed that Vietnam will continue to work with the U.S. in a constructive and cooperative manner to find practical solutions that ensure stable, long-term bilateral economic relations.
Ministry of Industry and Trade: Proactive Response and Export Growth Targets
Following the U.S. announcement of tariffs up to 46%, the Ministry of Industry and Trade (MOIT) issued action plans and policy recommendations to help Vietnamese businesses minimize risks from international trade fluctuations.
The Ministry emphasized that the U.S. and Vietnam are complementary economies, not direct competitors. Vietnamese exports mainly compete with goods from third countries, while Vietnamese products offer American consumers affordable alternatives, supporting purchasing power in the U.S. market.
In 2025, MOIT targets 12% export growth, equivalent to USD 450 billion, leveraging global economic recovery and Vietnam’s numerous free trade agreements (FTAs).
However, if no positive solution is found between Vietnam and the U.S., the new tariff measures could pose challenges to export growth. The Ministry had already anticipated such risks and proposed contingency plans to the government and local enterprises.
Expanding Global Market Access
According to Ta Hoang Linh, Director of the Department of Foreign Market Development (MOIT), Vietnamese exporters should take advantage of 17 FTAs with over 60 countries and territories, and 70 bilateral cooperation mechanisms.
Currently, exports to the U.S. account for about 30% of Vietnam’s total export value, even though the U.S. market represents only 13% of global imports. This concentration is both a strength and a vulnerability, highlighting the urgent need to tap into the remaining 87% of global market potential.
In the coming years, MOIT will accelerate FTA negotiations with emerging markets in the Middle East, Latin America, and Central Asia, strengthen trade promotion, and improve logistics infrastructure to reduce transport costs and enhance competitiveness.
The Ministry also plans to expand Vietnam’s network of trade offices abroad, helping domestic enterprises connect more effectively with international partners.
Five Key Solutions for Sustainable Export Development
In the long term, Vietnam’s sustainable export growth requires diversification, innovation, and resilience. The Ministry of Industry and Trade recommends five key strategies for domestic enterprises:
-
Market Diversification
Expand and effectively exploit both traditional and niche markets, while exploring new potential destinations. -
Product Quality Enhancement
Ensure compliance with international standards on technology, labor, and environment to boost competitiveness and reduce trade defense risks. -
Origin Control
Strengthen supply chain transparency and origin management to comply with FTA rules and avoid trade fraud. -
Trade Defense Capacity
Improve awareness and response mechanisms against foreign trade defense measures through training and regular updates. -
Market Intelligence
Stay informed of global market trends and trade policies to adapt business strategies promptly.
Coordinated implementation of these measures will help Vietnamese enterprises enhance resilience, sustain export momentum, and build a more sustainable and balanced trade structure in the face of global uncertainties.