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Tariffs on chicken and processed chicken meat, almonds, grapes,
wheat, pork, and potatoes are all earmarked for reductions, in
order re-balance bilateral trade, the ministry said in a
statement on its website.
Vietnam has emerged as one of the largest beneficiaries of the
trade spat between Washington and Beijing but it is concerned
that it could be U.S. President Donald Trump's next target.
Vietnam's trade surplus with the United States hit $38.4 billion
in the first 10 months of 2019, up 33.66% from a year ago,
customs data showed.
The Southeast Asia country is at risk of being labeled a
currency manipulator by the Washington because of its trade
surplus with the country, a highly positive current account
balance and because its central bank has been quite active in
terms of net foreign exchange purchases.
The statement said the ministry has proposed reducing the tariff
on chicken to 18% from 20% while the United States is expecting
to see it cut to 14.5% next year and eliminated in 2028.
"This tariff cut is in line with our commitment in the first
year of the Comprehensive and Progressive Trans-Pacific
Partnership (CPTPP)," the ministry said.
"The proposed rate of the U.S. will be taken into
consideration."
Import tariffs on fresh apples and grapes from the United States
are expected to be cut to 8%, on wheat to 3%, on potatoes to
12%, and on pork to 22%, which are all equivalent to Vietnam's
commitment to tariff cuts in the CPTPP, the ministry added.
The United States has suggested tariffs on apples, grapes and
wheat should be abolished next year.
(Reporting by Phuong Nguyen; Editing by Simon Cameron-Moore)
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