WASHINGTON: Vietnam and the United States have agreed to launch negotiations on a reciprocal trade agreement, which will include provisions related to tariffs.
The agreement was reached on Wednesday afternoon during a meeting between Deputy Prime Minister Hu Duc Phoc and US Trade Representative Jamieson Greer.
The meeting took place during Phoc’s visit to the United States as a special envoy of Party General-Secretary To Lam, aimed at discussing bilateral economic and trade issues.
He noted that Vietnam has proactively implemented various measures to help address the trade imbalance between the two sides and to respond to US concerns.
He proposed that, despite the fresh US decision to postpone tariff imposition for 90 days, both countries should promptly begin negotiations on a bilateral trade agreement.
Such an agreement would establish a long-term framework to promote stable and mutually beneficial economic and trade relations, in line with the Comprehensive Strategic Partnership between the two nations.
Greer, for his part, expressed appreciation for Vietnam’s proactive and constructive measures, which he said reflect the country’s strong commitment to strengthening Vietnam–US economic and trade ties.
He reaffirmed that the United States places great importance on its bilateral relationship with Vietnam and is eager to cooperate closely in addressing the trade imbalance, with a view to deepening ties across multiple sectors.
He also explained the rationale and economic challenges that led the Trump administration to adopt its current tariff policies, noting that the high tariffs imposed on Vietnamese exports were a response to the substantial trade deficit the United States holds with Vietnam.
The United States agreed to begin formal negotiations on a reciprocal trade agreement, including discussions on tariffs, and proposed technical teams from both sides begin consultations immediately, he said.
Both sides agreed to maintain close coordination in promoting a favourable business environment.
They committed to proactively reviewing and minimising non-tariff barriers on each other’s goods, facilitating greater US investment and business activity in Vietnam, and enhancing cooperation to prevent trade fraud.
On Tuesday and Wednesday, Phoc held meetings with Senator Bill Hagerty and Senator Steve Daines, as well as with various US organisations and businesses. — Viet Nam News/ANN
