Vietnam’s trade minister and U.S. Trade Representative Jamieson Greer held a telephonic conversation on Wednesday, as reported by Vietnamese state media, to commence dialogue over looming 46% U.S. tariffs that could impede growth in Vietnam.
With a trade surplus reaching $123.5 billion last year, Vietnam ranks as the fourth-largest among U.S. trading partners.
The U.S. has delayed imposing these substantial tariffs on most trading partners, including Vietnamese goods until July. If enacted, they could significantly impact Vietnam’s economic growth, which heavily depends on exports to the U.S., its largest market, and foreign investment in its industrial sector.
According to Vietnam Television, Trade Minister Nguyen Hong Dien who leads the negotiation team stated that Vietnam stands ready to address existing issues based on mutual interests. He noted that the U.S. is aiming for a collaborative resolution that ensures a stable and sustainable trade alliance.
Meanwhile, Prime Minister Pham Minh Chinh has directed officials to tackle trade-related fraud and counterfeit issues that concern the United States.
Still, the U.S. Trade Representative’s office has yet to comment on the telephonic discussion.
