President Trump announced on Friday that he had a “productive conversation” with a senior Vietnamese official. During the discussion, the Southeast Asian nation expressed a keen interest in reducing their tariffs to zero as part of a potential free trade agreement.
This announcement followed a call with To Lam, the General Secretary of the Communist Party of Vietnam, and appeared to positively influence the stock market. Shares in major clothing brands such as Nike, Lululemon, and American Eagle—each maintaining substantial manufacturing operations within Vietnam—saw an uptick, despite the broader market suffering a decline for the second day in a row.
On the same Friday, prior to President Trump’s call, Vietnam’s Deputy Prime Minister, Ho Duc Phoc, formally requested the Trump administration to postpone the implementation of global tariffs for up to three months, according to the Vietnam News, the nation’s leading English-language publication.
“Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.,” Trump posted on his Truth Social platform.
“I thanked him on behalf of our Country, and said I look forward to a meeting in the near future.”
