Việt Nam to negotiate tariffs with US this week

Việt Nam to negotiate tariffs with US this week

A Vietnamese delegation is scheduled to travel to the US on May 1 to engage with relevant US agencies for bilateral trade negotiations.

Trade Counsellor of the Việt Nam Trade Office in the US Đỗ Ngọc Hưng. — Photo moit.gov.vn

A Vietnamese delegation is scheduled to travel to the US on May 1 to engage with relevant US agencies for bilateral trade negotiations.

According to Đỗ Ngọc Hưng, Trade Counsellor of the Việt Nam Trade Office in the US, Việt Nam is among the group of countries prioritised by the US for negotiations, alongside India, the UK, Japan, South Korea and Indonesia.

"This demonstrates that the US views Việt Nam as an important, serious and goodwill partner, and genuinely acknowledges its concerns," he said. 

The US administration has postponed the imposition of high reciprocal tariffs on dozens of trade partners –including Việt Nam – for 90 days. During this period, a provisional tariff rate of 10 per cent will apply.

On April 23, Minister of Industry and Trade, Nguyễn Hồng Diên, head of Việt Nam’s negotiation team for the trade agreement with the US, held a phone call with US Chief Trade Representative Jamieson Greer to launch official negotiations on economic and trade issues between Việt Nam and the US.

This was a crucial discussion to address principles, scope and the negotiation roadmap.

A day later, the Office of the US Trade Representative (USTR) described the call as "productive", setting the stage for discussions on the two countries' trade relationship.

The USTR has invited Việt Nam’s inter-agency delegation to the US this week to formally initiate the negotiations.

This reflects the US's serious consideration of proposals put forward by Việt Nam during their previous exchanges.

Hưng recommended that Việt Nam’s relevant agencies continue to intensify diplomatic efforts and negotiations to advocate for and address issues related to reciprocal tariffs.

At the same time, he added that Việt Nam should implement a concrete roadmap to protect its trade interests against potential tariff measures.

Hưng shared that the two countries' trade structures are complementary rather than directly competitive, enabling American consumers to access Vietnamese exports with increasingly improved quality and competitive pricing.

"Many major US enterprises and large retail distribution chains have expressed support and confidence that Việt Nam will secure an appropriate agreement, either through the removal of reciprocal tariffs or suitable tariff adjustments," he added.

Many companies are also considering participating in the Việt Nam International Sourcing Expo 2025, organised by the Ministry of Industry and Trade in September. 

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