HCMC – The U.S. has agreed to begin negotiations on a reciprocal trade deal with Vietnam, following a proposal by Vietnamese Deputy Prime Minister Ho Duc Phoc during his April 9 meeting with U.S. Trade Representative Jamieson Greer.
Deputy PM Phoc, serving as the Special Envoy of Party General Secretary To Lam, met with U.S. Trade Representative Jamieson Greer on the afternoon of April 9 (local time) as part of his visit to the United States to discuss bilateral economic and trade matters.
He affirmed Vietnam’s desire to further strengthen and deepen the comprehensive strategic partnership with the United States, and expressed gratitude to the U.S. Government for its consistent support of a “strong, independent, self-reliant, and prosperous” Vietnam.
The deputy prime minister said that Vietnam wishes to work with relevant U.S. agencies to concretize the discussions between Party General Secretary To Lam and U.S. President Donald Trump on April 4, with the aim of maintaining a stable and sustainable economic and trade relationship for the benefit of businesses and people in both countries.
In recent times, Vietnam has proactively implemented various measures to help address the trade imbalance between the two countries and respond to U.S. concerns.
Phoc proposed that, although the U.S. has decided to postpone the imposition of tariffs for 90 days, the two countries should promptly begin negotiations on a bilateral trade agreement to establish a long-term framework that promotes a stable and mutually beneficial economic and trade relationship.
U.S. Trade Representative Jamieson Greer highly appreciated Deputy Prime Minister Ho Duc Phoc’s visit in his capacity as the Special Envoy of Party General Secretary To Lam.
The U.S. side agreed that the two countries would launch negotiations on a reciprocal trade agreement, which will include provisions on tariffs, and proposed that representatives from both sides begin discussions immediately.
Both sides agreed to continue working closely together to promote a favorable business environment, proactively review and minimize non-tariff barriers on each other’s goods, facilitate greater U.S. investment and business operations in Vietnam, and strengthen coordination in monitoring and preventing trade fraud.
In a related development, U.S. President Donald Trump announced on April 9 that he would temporarily suspend plans to impose reciprocal tariffs for 90 days on 75 trade partners that do not retaliate against the United States, according to the Vietnam News Agency.
However, President Trump stated that tariffs on China would now increase to a total of 125%, effective immediately, following Beijing’s retaliation against Washington’s latest tariff hike.
