Vietnam sets up task force to cope with US economic, trade policy shifts

Deputy Prime Minister Bui Thanh Son will lead the task force. (Photo: VNA)

Hanoi - Prime Minister Pham Minh Chinh has signed a decision on the establishment of a special task force to strengthen cooperation and proactively adapt to changes in US economic and trade policies.

Deputy Prime Minister Bui Thanh Son will lead the task force, while Minister of Industry and Trade Nguyen Hong Dien will serve as its deputy head.

Members of the task force include the Minister of Finance, the Governor of the State Bank of Vietnam, and leaders of the Ministries of Foreign Affairs; National Defence; Public Security; Agriculture and Environment; Science and Technology; Construction; Health; and Culture, Sports and Tourism, and the Government Office.

The task force has been assigned with assisting the PM in closely monitoring global and regional developments, particularly the adjustments in the US’s economic and trade policies. Its mandate includes advising the Government on flexible, timely, and effective responses to international developments and US policy changes to overcome challenges and seize opportunities while maintaining a peaceful, stable environment for national growth and development.

It is ordered to coordinate the efforts of various ministries, agencies and localities to fulfil the assigned tasks.

Operating on a part-time basis, the task force will uphold individual responsibility and function according to the Government’s working regulations and legal frameworks.

The Ministry of Industry and Trade will serve as the standing agency, coordinating with the Ministry of Finance, the Ministry of Foreign Affairs, and related agencies to implement assigned tasks without increasing personnel. The Ministry of Foreign Affairs will direct Vietnamese diplomatic missions abroad to monitor situations closely and provide timely updates and recommendations. Member ministries and agencies will regularly review and provide information to the Ministry of Industry and Trade and the Ministry of Foreign Affairs for comprehensive reporting to the task force leader.

The task force will disband once its mission is completed.

This development follows US President Donald Trump's April 2 executive order imposing reciprocal tariffs on imported goods from various countries, including a 46 per cent tariff on Vietnamese exports to the US. In response, PM Chinh immediately convened a meeting with ministries to address the situation. The Minister of Industry and Trade has also sent a diplomatic note to the US, requesting a delay in the implementation of these tariffs.

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