Vietnam and US to begin trade talks following tariff delay

Sharjah 24: Vietnam announced plans to launch negotiations with the United States on a bilateral trade agreement, following Washington's decision to postpone the implementation of a steep new tariff on Vietnamese exports.

The United States was Vietnam's largest export market during the first quarter of the year. However, President Donald Trump recently announced a 46 percent tariff targeting Vietnamese goods as part of a broader trade policy shift. The measure was paused on Wednesday, prompting Vietnam to push for formal trade discussions.

Deputy Prime Minister Ho Duc Phoc, tasked by top Vietnamese leader To Lam to lead negotiations, held talks with US Trade Representative Jamieson Greer. According to a government statement, both sides agreed to begin discussions on a reciprocal trade agreement that would include tariff-related terms, with technical teams instructed to start talks immediately.

During his visit to the US, Phoc also met with senators, businesses, and key organisations to advocate for Vietnam’s trade position. The country had earlier requested a 45-day delay to the tariff implementation, warning that the levy could harm its export-dependent economy.

Vietnam has pledged to increase imports of American goods, including security and defence products, in an effort to address US concerns. The Trump administration had expressed frustration over Vietnam’s trade surplus, valued at $123.5 billion last year, and accused the country of being a conduit for goods seeking to bypass tariffs on Chinese exports.

Vietnam reiterated that it had taken proactive steps to respond to Washington’s concerns and expressed its commitment to fostering stable and mutually beneficial trade ties.