Moneycontrol PRO
LAMF
LAMF

Vietnam ready to slash tariffs to zero, claims Trump after 'very productive' call with its top leader

On Thursday, Vietnam's Prime Minister Pham Minh Chinh requested the immediate establishment of a "rapid response team" after Trump's announcement of massive tariffs against the country.
April 04, 2025 / 21:27 IST
United States President Donald Trump - File Photo

US President Donald Trump said Friday that he spoke with the head of Vietnam’s ruling Communist Party, who told him in a "very productive" call that he wanted to make a deal on tariffs, after the southeast Asian nation was hit by huge 46 percent levies.

"Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future," Trump wrote in a Truth Social post.

On Thursday, Vietnam's Prime Minister Pham Minh Chinh  requested the immediate establishment of a "rapid response team" after Trump's announcement of massive tariffs against the country.

A separate statement also said that Vietnam was sending Deputy Prime Minister Ho Duc Phoc on a "working visit to the United States".

Ahead of Trump's tariff announcement, Vietnam cut import duties on a range of goods including cars, liquefied gas and some agricultural products in what appeared to be a pre-emptive attempt to blunt tariffs.

Washington's trade deficit with Vietnam is the third-highest of any country, after China and Mexico.

According to data from the US Trade Representative website, the United States imported $136.6 billion worth of goods from Vietnam last year, representing nearly 30 percent of its GDP.

Moneycontrol World Desk
first published: Apr 4, 2025 09:12 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347