Vietnam is among a select group of countries prioritized for trade discussions that also includes India, the U.K., Japan, South Korea, and Indonesia, Do Ngoc Hung, trade counselor at the Vietnam Trade Office in the U.S., said Tuesday.
“This demonstrates that the U.S. views Vietnam as an important, serious and cooperative partner who has acknowledged its concerns.”
The administration of President Donald Trump has delayed imposing steep retaliatory tariffs on dozens of trading partners, including Vietnam, for 90 days.
A temporary 10% tariff rate is currently in place.
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Lach Huyen Port in Hai Phong City, northern Vietnam. Photo by VnExpress/Giang Huy |
On April 23 Minister of Industry and Trade Nguyen Hong Dien, who will lead the negotiating team, spoke with U.S. Trade Representative Jamieson L. Greer to formally launch the discussions.
The two addressed key principles, the scope of talks and a negotiation roadmap.
The Office of the U.S. Trade Representative described the conversation as “productive” and focused on advancing bilateral trade relations in a statement released the following day.
The response reflects serious consideration of Vietnam’s proposals, according to the Vietnam Trade Office.
Hung urged Vietnamese agencies to intensify diplomatic efforts and negotiations to address the tariff concerns and emphasized the need for a clear roadmap to safeguard Vietnam’s trade interests.
Trade data underscores the growing economic relationship.
In the first quarter, Vietnam’s exports to the U.S. reached $31.4 billion, a 22% increase from the same period last year. Imports from the U.S. were up 21% at $4.1 billion.
Hung highlighted the complementary nature of the two nations’ trade structures, noting that they do not compete directly, a dynamic that allows U.S. consumers to access high-quality Vietnamese exports at competitive prices.
But he warned that U.S. retaliatory tariffs could destabilize global trade and pose challenges for its own market.
“Many large U.S. companies and major retail distribution chains have expressed support and confidence that Vietnam will reach a suitable agreement by removing or adjusting retaliatory tariffs to an appropriate level.”
