Vietnam and US begin trade talks amid tariff concerns

Thursday 24 April 2025 - 09:05

By: Zahouani Ilham

Vietnam and US begin trade talks amid tariff concerns

Vietnam and the United States have officially begun trade negotiations as Hanoi seeks to ease a hefty 46 percent tariff recently announced by former US President Donald Trump.

According to Vietnam’s Ministry of Industry and Trade, Minister Nguyen Hong Dien and US Trade Representative Jamieson L. Greer held a phone call to launch discussions on key bilateral trade and economic matters.

During the conversation, Minister Nguyen emphasized Vietnam’s intention to deepen ties through a comprehensive strategic partnership and strengthen economic cooperation with the US in a manner that is balanced, stable, and sustainable.

Vietnam expressed readiness to address Washington’s concerns through negotiation and to work toward solutions that reflect shared benefits and risks. The US representative voiced optimism that the two nations would soon find appropriate resolutions that enhance stable and mutually beneficial trade relations.

Vietnam, one of the most export-reliant economies globally, saw its exports represent over 87 percent of its GDP in 2023, according to World Bank data.

The 46 percent tariff placed on Vietnamese goods ranks among the highest imposed under Trump’s "reciprocal" trade policy. While a 90-day suspension of certain tariffs was announced on April 9, Vietnamese exports are still facing a standard 10 percent duty.

Last year, Vietnam recorded a $123.5 billion trade surplus with the US, making it the fourth-largest trade imbalance after China, the European Union, and Mexico.