Spokeswoman for the Ministry of Foreign Affairs Phạm Thu Hằng. — VNA/VNS Photo

HÀ NỘI — Việt Nam has reaffirmed its readiness to engage in discussions with the US to share information, enhance mutual understanding and address existing challenges, amid growing concerns over a potential global trade war, following recent declarations and moves by the US President Donald Trump's administration.

Spokeswoman for the Ministry of Foreign Affairs Phạm Thu Hằng made the statement during a regular press briefing on Thursday, in response to a reporter’s question about Việt Nam's preparations for a possible trade war, a scenario which Prime Minister Phạm Minh Chính at the January cabinet meeting told ministries and agencies to prepare for.

"As a highly-open economy that is increasingly integrating into the world economy, Việt Nam closely monitors international developments to put in place appropriate measures to alleviate any economic impacts while contributing to the healthy development of international trade," Hằng noted.

Việt Nam remains committed to strictly adhering to international legal frameworks and bilateral and multilateral trade commitments, she said.

"Việt Nam remains committed to strictly complying with relevant mechanisms under international law, and commitments made in terms of bilateral and multilateral trade. We will also continue to bolster international cooperation in terms of building institutions, building capacity, promoting trade liberalisation so as to contribute to the healthy growth of the economy," Hằng said.

Regarding President Trump’s decision to impose a 25 per cent tariff on all imported aluminium and steel products starting March 4, the spokeswoman said that, based on the Comprehensive Strategic Partnership between Việt Nam and the US for Peace, Cooperation and Sustainable Development, Việt Nam has been working closely with the US to maintain the strong momentum of bilateral relations.

She noted that recently Việt Nam-US trade and investment ties have made significant progress, benefiting both governments and their citizens.

"Việt Nam stands ready to maintain exchanges with the US in a constructive and cooperative manner, so as to continue to update each other with relevant information, enhance mutual understanding and address any outstanding issues with a view to further enhancing economic trade and the bilateral economy, trade and investment ties between the two countries," Hằng added.

When asked about Việt Nam's response to concerns from foreign businesses operating in the country in terms of US trade policies, the foreign ministry representative acknowledged these concerns.

She reiterated that Việt Nam is ready and will continue to engage in constructive and cooperative discussions with the US to enhance collaboration and address existing issues, ensuring further growth in bilateral economic and trade relations.

"For foreign businesses investing and operating in Việt Nam, we are continuously simplifying regulations and creating a favourable business environment to provide them with confidence in doing business in Việt Nam," Hằng stated.

On February 12, President Trump announced plans to impose reciprocal tariffs on countries that levy duties on US imports, raising fears of an escalating global trade war.

Earlier, the US leader had signed an executive order officially imposing 25 per cent tariffs on all imported steel and aluminium products without exceptions or exemptions. — VNS