In the current context, Prime Minister Pham Minh Chinh chaired a meeting between the Government Standing Committee and representatives of ministries and sectors to assess the situation and discuss necessary solutions after the U.S. announced its policy of imposing countervailing duties on Vietnamese goods. The meeting took place in a serious atmosphere, with concerns about the impact of this decision on the Vietnamese economy.
The Prime Minister emphasized that the imposition of tariffs by the U.S. is inconsistent with the good relationship between the two nations, as well as the wishes of the people on both sides. He expressed disappointment over this decision and urged ministries and sectors to remain calm, maintain their composure, and proactively seek flexible and timely solutions to overcome the difficulties and shocks from outside. This is not only to cope with the current situation but also an important part of maintaining stability for the economy in the context of global instability.
One of the most important decisions made in the meeting was the establishment of a rapid response team led by Deputy Prime Minister Bui Thanh Son. This team will be tasked with proposing specific and effective measures to deal with the challenges arising from U.S. tariff policies. Deputy Prime Minister Ho Duc Phoc will also conduct sessions to hear opinions from businesses, especially large exporters, to better understand the situation and the difficulties they are facing.
The Prime Minister also emphasized that this is an opportunity for Vietnam to assert its resilience and national strength, while restructuring the economy towards rapid yet sustainable development, focusing on green and digital transformation, based on science, technology, and innovation. He confirmed that the goal of maintaining GDP growth of 8% or higher by 2025 will still be upheld, despite current challenges.
Facing the U.S. countervailing duty policy, many other Asian countries such as China, South Korea, Japan, and Thailand have also quickly taken action to respond. China has announced it will retaliate and demand the U.S. cancel these tariffs. South Korea, Japan, and Thailand are focusing on promoting negotiations with the U.S. to minimize the negative impacts of this decision.
Overall, the situation of U.S. countervailing duties is a significant challenge but also an opportunity for Vietnam to enhance its competitiveness and restructure the economy in a modern and sustainable direction. The government is making every effort to protect the interests of businesses as well as the stable development of the national economy in the context of deepening globalization.