Vietnam run time to avoid US fees

The Ministry of Finance in Vietnam has made a proposal to reduce preferential duties on a set, including LNG, cars, wood and agricultural products, as part of the country’s attempt to avoid the impending threat of US Customs duties. Among these changes, customs duties on some types of cars will be reduced from a range between 45% and 64% to 32%, and the LNG tax will decline from 5% to 2%, while the ethanol tax is reduced from 10% to 5%. Agricultural commodities, including apples, frozen chicken, almonds and sweet cherries, will also see a reduction in the fees, according to a statement on the Ministry’s website, quoting Naguin Cocok Hong, director of the tax management unit. Vietnam, the third highest commercial surplus with America, added that the draft organizational changes are aimed at “dealing with” complex and unexpected developments in the global geopolitical and economic scene “, where the customs definition policies” world economies “, including the economy of Vietnam. Vietnam seeks to strengthen its trade relations with the United States and to persuade Trump’s management to address its trade surplus, rising to $ 123.5 billion last year, which puts it in third place between the countries that record the highest commercial surplus with the United States, to China and Mexico. Vietnam “Vietnam is seriously about the threats of the Trump administration on customs duties, even though China is the main goal in Asia,” according to pain Ellite. He wrote in a research note on March 24: “Nevertheless, the country still places a greater number of what is believed by customs duties on goods imported from the United States,” he wrote in a research note on March 24. The average decision on the tariff amendments (the most sponsored country) will be issued during this month, according to the statement of the ministry. The statement added: “The customs tariff rates must be amended on imports under the principle of the ‘most sponsored country’ of some commodities, to ensure a fair treatment for all the comprehensive Vietnam strategic partners.” Vietnam and the United States have steadily strengthened their cooperation since the two countries increased their bilateral relations to a comprehensive strategic partnership in 2023.