Mangoes are prepared at a processing factory in Lâm Đồng Province before being packaged for export to the US, along with the European, South Korean and Japanese markets. — VNA/VNS Photo Vũ Sinh

HÀ NỘI — Việt Nam has not seen significant impacts from the US's new trade policies, as its exports are not in direct competition with American companies in their domestic market, said Deputy Minister of Trade and Industry Nguyễn Sinh Nhật Tân at a recent government press conference. 

“In contrast, [Việt Nam’s exports] allow US consumers access to more affordable goods from Việt Nam,” he added.

Việt Nam has closely followed the US’s policies since the presidential election, to actively prepare for possible changes in trade. 

The Southeast Asian country is expected to be affected by several of the new US tariffs, but not as severely as many other nations, said the deputy minister.

“The Ministry of Industry and Trade (MoIT) has worked with other ministries and sectors to compile a report for the Government, which will hold a meeting in March 2025 to discuss specific responses,” said Tân.

Through the US embassy in Việt Nam and the Vietnamese embassy in the US, the MoIT has conveyed a message on Việt Nam’s willingness to maintain and develop harmonious, sustainable and mutually beneficial trade and economic relations with the US, while stressing that Việt Nam does not have any policy that can cause adverse impacts on US workers or national security. 

The Vietnamese trade and industry minister is scheduled to hold a meeting with the US trade representative on March 13 to discuss enhancing the positive relations between the two countries.

“The MoIT views the Vietnamese and US economies as complementary to one another,” said deputy minister Tân. 

The two countries have established a policy dialogue mechanism under the US-Việt Nam Trade and Investment Framework Agreement. 

The Vietnamese Government has also proactively tasked its departments with reviewing and addressing the concerns of the US based on fair and reciprocal trade, in alignment with legal regulations and the balanced interests of both sides, Tân added.

Authorities will also facilitate investments from the US for emerging key industries in Việt Nam, especially in the energy sector. This will be the basis for increasing imports of liquefied natural gas (LNG), fuels, machinery and technology from the US to improve the balance of trade between the two countries. — VNS