On the morning of March 27, 2025, at Kim Do Hotel, Ho Chi Minh City, HM&P Law Firm (“HM&P”) in collaboration with The Saigon Times organized a significant thematic seminar titled “New U.S. tariff policies and Vietnam’s response” This seminar marked the culmination of a series of programs under the same title, consisting of two online talk shows broadcast on The Saigon Times’ and HM&P’s platforms, followed by this in-person seminar.
The seminar attracted a large number of economic experts, representatives from state management agencies, industry associations, and over 100 Vietnamese enterprises involved in international trade. Due to the timeliness and widespread impact of the topic, the seminar became a focal point, drawing substantial attention from the public, media agencies, and especially businesses exporting goods to the U.S.
The event took place amidst significant changes in U.S. tariff policies, which directly affect the export activities of Vietnamese enterprises. The increasing economic protectionism in the U.S. poses substantial challenges for Vietnamese businesses that rely heavily on this market. To assist enterprises in timely grasping and responding effectively, the seminar focused on analyzing the new U.S. tariff policies expected to take effect from April 2, 2025. Furthermore, the event provided a valuable platform for connecting businesses with leading experts in the fields of economics and law, enabling practical recommendations to be formulated.
According to HM&P’s representative, Managing Partner Nguyen Van Phuc commented that these policies not only aim to protect the U.S. domestic economy but also to rebalance trade relations, thereby increasing pressure on imported goods from many countries, including Vietnam.
Challenges from new U.S. tariff policies
In his opening remarks at the seminar, Lawyer Nguyen Van Phuc highlighted that the new U.S. tariff policies could significantly impact Vietnam’s major export sectors such as wood products, textiles, seafood, and pharmaceuticals. Notably, the expected tariff adjustments are considered part of an economic protection strategy aimed at rebalancing trade relations and promoting domestic production in the U.S.
Additionally, Dr. Can Van Luc, Chief Economist of BIDV Bank, analyzed that the new U.S. measures could create various legal, financial, and commercial risks for Vietnamese enterprises. According to him, in order to adapt promptly, businesses need to swiftly identify these risks and find ways to cope through enhancing production capacity, improving product quality, and strictly complying with regulations concerning rules of origin.
In her presentation, Ms. Nguyen Nam Tran, Managing Director of SGS Vietnam, emphasized the international standards that enterprises must meet to avoid high tariffs or import rejections. Moreover, specific recommendations were made concerning the inspection of raw material sources, ensuring transparency in the supply chain, and strengthening origin certification for exported goods.
Solutions for coping and enhancing competitiveness of Vietnamese enterprises
Under the moderation of Lawyer Nguyen Van Phuc, a roundtable discussion took place with the participation of top experts including Dr. Can Van Luc, Chief Economist of BIDV Bank; Mr. Le Duc Nghia, Chairman of the Board of Directors of An Cuong Wood JSC; Mr. Nguyen Huu Nam, Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI) - Ho Chi Minh City Branch, and Dr. Pham Van Dai, Expert in International Trade Policy.
Experts and enterprises concurred that sectors such as wood, textiles, seafood, steel, aluminum, and pharmaceuticals in Vietnam will face numerous difficulties due to changes in U.S. tariff policies. However, challenges often come with opportunities. If enterprises proactively adjust their production and business strategies, this could be a driving force for enhancing competitiveness, improving product quality, and building a reputable brand in the international market. The specific solutions proposed include:
- Diversifying export markets: Avoiding over-reliance on the U.S. market by expanding to other potential markets such as the EU, Japan, and South Korea.
- Improving product quality and production processes: Investing in modern technology and strictly adhering to international standards.
- Ensuring supply chain transparency: Establishing a rigorous control system from raw material inputs to finished products.
- Certifying product origin: Completing legal documentation to ensure the legitimacy and transparency of products.
As a co-organizer of the seminar, with the presence and coordination of HM&P’s Managing Partner, Mr. Nguyen Van Phuc, the event was successfully conducted. Mr. Phuc affirmed:
“We understand that each enterprise has its own unique characteristics; therefore, the solutions we provide are always flexible and practical, ensuring they are suitable for each specific situation. We not only offer legal services but also act as a trusted companion for businesses during the process of international integration.”
The seminar concluded successfully, providing valuable insights for participating enterprises. This event not only served as a forum for discussing the new U.S. tariff policies but also as an opportunity for businesses to access leading experts, gaining useful information and practical solutions from HM&P and other specialized partners.
Once again, HM&P sincerely appreciates the cooperation and support from The Saigon Times throughout this series of events. This successful collaboration sets a strong foundation for further and broader cooperation between the two parties in the future.
We kindly invite our valued clients, businesses, and audience to explore more about the program at:
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