Vietnam and U.S. Set for Talks on Mutual Trade Deal

The United States has consented to initiate talks regarding a mutual trade accord with Vietnam, following a proposal made by Vietnamese Deputy Prime Minister Ho Duc Phoc during his discussion with U.S. Trade Representative Jamie Greer on Thursday.

Phoc, visiting the United States in his role as a special envoy for Party General Secretary To Lam, expressed Vietnam’s desire to enhance and expand the Comprehensive Strategic Partnership with the U.S.

He expressed his gratitude to the U.S. government for their ongoing support of a "robust, autonomous, resilient, and thriving" Vietnam. He emphasized that Vietnam is committed to developing an independent and self-sufficient economic system and continues to pursue a foreign policy based on autonomy, self-reliance, as well as diversified and multi-faceted international relationships.

Vietnam aims to collaborate with pertinent U.S. organizations to solidify the talks between Party General Secretary Lam and President Donald Trump on April 4, thereby sustaining a steady and durable economic and trade partnership for the benefit of enterprises and citizens from both nations, as the Deputy Prime Minister further explained.

He highlighted that Vietnam has taken several proactive steps recently to tackle the trade imbalance with the United States and to address the worries expressed by American officials.

Hence, he argued, the US imposing high tariffs on Vietnamese goods contradicts the mutual benefits enjoyed through economic and trade relations between both nations and fails to align with the principles of their Comprehensive Strategic Partnership.

The Deputy Prime Minister suggested that despite the U.S. postponing the implementation of tariffs for 90 days, both nations should swiftly initiate talks towards a bilateral trade deal. This would help create a lasting structure aimed at fostering a steady and advantageous economic partnership consistent with their Comprehensive Strategic Partnership goals.

In turn, Greer praised Vietnam for taking proactive and positive actions, highlighting the nation's robust dedication to enhancing bilateral economic and trade relationships.

The United States attaches significant importance to its bilateral relationship with Vietnam and seeks to collaborate closely to tackle the trade imbalance. The aim is to enhance collaboration progressively in multiple areas, as stated.

Greer mentioned that the mutual trade deal ought to encompass provisions regarding duties and suggested that technical-level delegates from each nation initiate talks at once.

Both parties agreed to keep collaborating intensively to foster a conducive business climate, actively assess and reduce non-tariff impediments for each other's products, ease the path for more American businesses and investments in Vietnam, and strengthen efforts in tracking and thwarting trade fraud.

Phoc similarly had meetings with Senators Bill Hagerty and Steve Daines, along with several U.S. organizations and enterprises.

The Vietnamese representative showed gratitude towards the U.S. Congress and the senators for their backing of the Vietnam-U.S. relationship.

Phoc conveyed his joy over the favorable progress in their bilateral relationship since the inception of the Comprehensive Strategic Partnership. He highlighted the importance of the year 2025, which signifies the 30-year milestone since the restoration of diplomatic ties between both nations.

Concerning their mutual economic and trade ties, the Deputy Prime Minister pointed out that the partnership between Vietnam and the U.S. is largely supplementary; he clarified that Vietnam does not vie directly with the United States for dominant export markets, yet actively imports an extensive array of American commodities, services, and advanced technology products.

He appealed to the U.S. Congress to keep supporting and advocating for the elimination of tariffs on Vietnamese products. Additionally, he encouraged backing efforts towards facilitating discussions between the two countries with the aim of swiftly establishing a lasting, mutually beneficial bilateral trade deal that caters to the welfare of their citizens and enterprises.

Both senators voiced their optimism that the mutual partnership would keep expanding and positively impact peace and stability both within the region and globally.

They praised Vietnam for taking initiative in tackling tariff problems with the U.S., and they expressed their backing for the trade relationship between Vietnam and the U.S., grounded in the wider strategic objectives both nations share.

Both were confident that the two nations would swiftly initiate negotiations and discover ways to bolster a stable and mutually advantageous economic and trade partnership in the coming months.

During his time in the U.S., Phoc met with numerous experts, academics, and prominent American and Vietnamese companies. He was also present at the signing ceremony for a Memorandum of Understanding outlining collaboration between Vietnam’s Vietjet and AirFinance from the United States.