HANOI (Bloomberg): Secretary of State Marco Rubio encouraged Vietnam to address its trade imbalances with the US in a call with Foreign Minister Bui Thanh Son.
Rubio and Son, who is also deputy prime minister, discussed regional concerns including "China’s aggressive behavior in the South China Sea,” State Department spokeswoman Tammy Bruce said in a statement on Friday.
"While praising our economic cooperation, the secretary encouraged Vietnam to address trade imbalances,” she said.
Vietnam Prime Minister Pham Minh Chinh said at the World Economic Forum on Tuesday in Davos the country is "working on solutions” to re-balance its trade surplus with the US, reiterating a promise to buy Boeing Co. planes and expressing an interest in purchasing other American high-tech items.
Vietnam is among the world’s most trade-dependent nations, with exports accounting for about 85% of its economy.
The country had a surplus of about US$100 billion with the US in 2023, making it a possible target for President Donald Trump’s policies.
"Both officials celebrated the 30th anniversary of U.S.-Vietnam relations and the progress made under the Comprehensive Strategic Partnership,” Bruce said.
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