Business

Vietnamese mission in Geneva discusses new developments in US tariff policy

For Vietnam, a highly open economy, new developments in US tariff policy may directly affect export prospects and the predictability of the business environment, as well as policy planning by relevant state agencies.

Delegates attend the seminar on new developments in US tariff policy organised by ermanent Mission of Vietnam in Geneva. (Photo: VNA)
Delegates attend the seminar on new developments in US tariff policy organised by ermanent Mission of Vietnam in Geneva. (Photo: VNA)

Geneva (VNA) - The Permanent Mission of Vietnam in Geneva has recently organised a hybrid seminar on new developments in US tariff policy.

Attending the event were Ambassador Mai Phan Dung, head of the Mission; Minister-Counselor Pham Quang Huy; and Simon Evenett, founder of the St. Gallen Endowment and Professor of Geopolitics and Strategy at the International Institute for Management Development (IMD).

In his opening remarks, Ambassador Dung stated that the global and regional geopolitical situation has recently seen complex developments, posing increasing difficulties and challenges for trade and global supply chains, particularly the reciprocal tariffs imposed by the administration of US President Donald Trump in 2025.

In addition, recent adjustments to US tariff policy, following the US Supreme Court’s ruling rejecting reciprocal tariffs such as tariffs imposed under Section 122 of the Trade Act of 1974 (relating to international payments), and two cases under Section 301 concerning overcapacity and forced labour have increased uncertainty in global trade.

For Vietnam, a highly open economy, these developments may directly affect export prospects and the predictability of the business environment, as well as policy planning by relevant state agencies, he noted.

At the seminar, Professor Simon Evenett analysed several issues, including Vietnam’s exports and US imports in 2025; transshipment concerns; forecasts of upcoming US tariff policy trends in applying protectionist measures; analysis of recent investigations under Section 122 and Section 301; and recommendations for Vietnam in responding to the two Section 301 cases.

Participants also raised questions to the speaker on other notable topics, such as the impact of Malaysia’s recent decision to cancel its bilateral trade agreement with the US and possible US reactions; the relationship between the outcomes of bilateral trade negotiations and Section 301 investigations; predictions of sectors likely to face Section 301 actions; interpretations of overcapacity; and legal standing in initiating tariff-related cases.

In his closing remarks, Ambassador Mai Phan Dung emphasised the relevance, necessity, and timeliness of the seminar in updating information about new developments in US tariff policy, analysing impacts, and proposing recommendations for timely responses amid a highly volatile global trade environment./.

VNA
#Permanent Mission of Vietnam in Geneva #US tariff policy #global trade #business environment
Follow VietnamPlus

Related News

See more

A passenger poses for a photo besides a Vietjet aircraft (Photo: VNA)

Vietjet leads Southeast Asia in emissions efficiency

Under comparable operating conditions, Vietjet’s leading position highlights its ability to optimise performance across its entire operational chain, including aircraft configuration, route network design and load management.

Containers loaded at Cai Mep International Terminal (Photo: VNA)

Vietnam ranks 18th among world’s top exporters in 2025

Vietnam’s exports reached about 470 billion USD for the first time last year, up more than 16% year on year, with a trade surplus of over 20 billion USD, contributing significantly to maintaining macroeconomic stability.

Experts speak at the workshop (Photo: VNA)

Vietnam’s pet care market emerges as lucrative investment opportunity

​ Across the Asia-Pacific, 60% of respondents own pets, while Vietnam’s pet ownership rate stands at 79%, among the highest in the region. Notably, 55% of Vietnamese pet owners have two or more pets, signalling that pet ownership has evolved from a hobby into a modern lifestyle choice.

A view of the workshop on the application of AI and real-world data in food product research and development held in Ho Chi Minh City on April 22. (Photo: VNA)

AI emerges as key driver for Vietnam’s F&B sector breakthrough

Businesses start with projects that deliver quick results within six to 12 months, like quality control systems, demand forecasting, or customer service chatbots. In the long run, F&B companies are advised to move toward with AI-driven operating models to keep up with fast-changing market demands.

Trucks carrying imports enter Vietnam through Lao Cai International Border Gate. (Photo: VNA)

Smart border gates power growth in northern border provinces

With a borderline of about 182 km, Lao Cai aims to turn its border gate economic zone into a key growth engine by adopting a smart border gate model, viewing this as a breakthrough measure for improving management efficiency, reducing logistics expenses, and enhancing customs clearance capacity.

Ken Chau (right), Chairman of the Vietnam Canada Business Association, presents flowers to the organising committee of the Vietnamese Entrepreneurs Awards in Canada 2026 at the event. (Photo: Award organising board)

Vietnamese awards in Canada spotlight community strength

The gala brought together nearly 200 participants, including community leaders, entrepreneurs and guests from across the country, highlighting both the achievements of Vietnamese businesses and the community’s growing role in the socio-economic fabric of Vancouver and other Canadian cities.

Passenger numbers are expected to peak at the start of each break, particularly from the afternoon of April 24 to April 25, with a return wave on April 27 following the Hung Kings Commemoration Day. (Photo: VNA)

Transport sector ramps up capacity for holiday travel surge

Transport experts said the back-to-back holidays will create travel patterns different from previous years. While some people are expected to combine the two breaks into a longer holiday, others will travel during either period depending on personal plans. Passenger flows are therefore likely to be more evenly distributed, helping ease pressure on transport systems.

A worker at the factory of the TNG Investment and Trading Joint Stock Company in the Song Cong I Industrial Park, Thai Nguyen province. (Photo: VNA)

Imports accelerate, powering exports, public revenues

Previous years show that Vietnam typically runs a trade deficit in the first quarter before shifting to a surplus in the latter half of the year. The current deficit, therefore, is considered both normal and indicative of an economy “recharging” for growth.

Vietnamese Minister of Construction Tran Hong Minh and Korean Minister of Land, Infrastructure and Transport Kim Yun-duk hold talks on April 21 in Hanoi. (Photo: The Courtesy of the Ministry of Construction)

Vietnam, RoK step up cooperation in transport infrastructure

Minh noted that in transport, the RoK is currently Vietnam’s second-largest bilateral donor. Since 1996, the Korean Government has provided significant capital for Vietnam’s transport infrastructure, with nine projects completed to date, totalling over 1 billion USD, and six others underway worth nearly 600 million USD.

Illustrative image (Photo: VNA)

Technology bolsters growth confidence among Vietnam’s small businesses

The survey also indicates that this growth is expected to continue into 2026, with 89% of Vietnamese small businesses planning to expand operations. This outlook is fueled by a strong emphasis on embracing technology, expanding e-commerce, and enhancing corporate governance capabilities.