US Imposes 46% Tariff, Prompting Vietnam to Restructure Economy Toward Sustainable Development

Vietnamese Prime Minister Pham Minh Chinh stated during a monthly cabinet meeting on Sunday that Washington’s imposition of a 46% tariff on imports from Vietnam should be viewed as an opportunity for the Southeast Asian country to restructure its economy and diversify products and markets toward sustainable development.​  He emphasized that the current situation presents an opportunity for Vietnam to accelerate economic restructuring toward sustainability by harnessing digitization, science and technology, and innovation.​  Furthermore, he views this as a chance to promote the restructuring of export markets and enhance product quality to access markets with significant potential, such as the Middle East, Central Asia, East Asia, South America, India, and ASEAN countries.​