Attending the event were Ambassador Mai Phan Dung, head of the Mission; Minister-Counselor Pham Quang Huy; and Simon Evenett, founder of the St. Gallen Endowment and Professor of Geopolitics and Strategy at the International Institute for Management Development (IMD).
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Ambassador Mai Phan Dung (third from left, front), Head of the Permanent Mission of Vietnam in Geneva, delivers opening remarks at the seminar. |
In his opening remarks, Ambassador Dung stated that the global and regional geopolitical situation has recently seen complex developments, posing increasing difficulties and challenges for trade and global supply chains, particularly the reciprocal tariffs imposed by the administration of U.S. President Donald Trump in 2025.
In addition, recent adjustments to U.S. tariff policy, following the U.S. Supreme Court’s ruling rejecting reciprocal tariffs such as tariffs imposed under Section 122 of the Trade Act of 1974 (relating to international payments), and two cases under Section 301 concerning overcapacity and forced labor have increased uncertainty in global trade.
For Vietnam, a highly open economy, these developments may directly affect export prospects and the predictability of the business environment, as well as policy planning by relevant state agencies, he noted.
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An overview of the seminar (Photo: MoIT) |
At the seminar, Professor Simon Evenett analyzed several issues, including Vietnam’s exports and U.S. imports in 2025; transshipment concerns; forecasts of upcoming U.S. tariff policy trends in applying protectionist measures; analysis of recent investigations under Section 122 and Section 301; and recommendations for Vietnam in responding to the two Section 301 cases.
Participants also raised questions to the speaker on other notable topics, such as the impact of Malaysia’s recent decision to cancel its bilateral trade agreement with the U.S. and possible U.S. reactions; the relationship between the outcomes of bilateral trade negotiations and Section 301 investigations; predictions of sectors likely to face Section 301 actions; interpretations of overcapacity; and legal standing in initiating tariff-related cases.
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Officials of the Vietnam Permanent Mission in Geneva take a commemorative photo with the speaker from the St Gallen Endowment for Prosperity Through Trade at the Mission headquarters. (Photo: MoIT) |
In his closing remarks, Ambassador Mai Phan Dung emphasized the relevance, necessity, and timeliness of the seminar in updating information about new developments in U.S. tariff policy, analyzing impacts, and proposing recommendations for timely responses amid a highly volatile global trade environment.
Source: VNA