Hanoi, Vietnam — Vietnam go cut tariff on several US products like liquefied natural gas (LNG) and car, as dem try dodge US tariffs when President Trump dey throw eye on dem large trade surplus. Dis announcement come as Vietnam dey plan changes to balance dem trade with the US, wey pass $123 billion last year.
Finance Ministry top official, Nguyen Quoc Hung, talk say dem go reduce LNG tariff from 5% to 2%, car tariff from a range of 45% to 64% down to 32%, and ethanol tariff from 10% to 5%. Dis move na to help correct trade balance between Vietnam and America.
“We dey improve trade balances with our partners,” Hung talk for statement wey dem post for ministry website. E add say, although Vietnam and US dey get Comprehensive Strategic Partnership, we never sign free-trade agreement yet.
Though Vietnam never import LNG from the US before, dem don dey negotiate with American suppliers as dem gear up for their LNG power plants wey go start operating by June dis year.
Hung confirm say dem go finalize the decree for the tariff cuts this month, and e go take effect immediately. Dis new policy no go just affect LNG and cars, dem also dey remove tariff on ethane and reduce duties wey dey affect chicken thighs, almonds, apples, cherries, and wooden products.
On top of dis, Vietnamese government don allow SpaceX to launch Starlink satellite internet service on trial basis, wey some people see as another way to avoid US tariffs. Dis service go remain under full ownership of SpaceX.
“Allowing Starlink to enter Vietnam na strategic move,” according to some analysts. “E fit help bridge gap and ease potential tensions over trade.”
As Trump dey plan for reciprocal tariffs on multiple countries wey go start on April 2, di move wey Vietnam wan make fit prevent dem from suffering from American requirements.
