By Amanda Lee

Vietnam's prime minister convened an urgent meeting on Thursday to discuss immediate and longer-term measures in the wake of President Trump's announcement of tariffs that include a 46% levy on the Southeast Asian country.

According to the government's official news portal, Vietnamese Prime Minister Pham Minh Chinh called for the setting up of a "rapid response team."

The prime minister has assigned Deputy Prime Minister Ho Duc Phoc, who will head up the team, to direct ministries and agencies to gather opinions from businesses, including large exporters.

"Vietnam hopes that the U.S. would have a policy that is consistent with the good relations between the two countries," a post on the official news portal said.

The prime minister has stressed that "the current situation shows that trade competition is becoming more fierce, complicated and unpredictable," the post said.

Pham reiterated that the government continues to aim for economic growth of at least 8% this year.

Economists say that Vietnam, which has considerable exposure to U.S. tariffs, stands to be among the hardest hit if the Trump levies go into effect in their current form.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

April 03, 2025 06:29 ET (10:29 GMT)

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