Vietnam, US agree to accelerate reciprocal trade agreement negotiations

Minister of Industry and Trade Nguyen Hong Dien, who leads Vietnam’s negotiation team, met with U.S. Trade Representative Jamieson Greer to assess recent progress and set a course for the next phase of talks.

The meeting came after the second technical round held in Washington, D.C., from May 19 to 22.

Minister Dien presented Vietnam’s official responses to additional U.S. proposals and reaffirmed the country’s commitment to reaching a mutually beneficial deal.

He also urged Greer, who heads the U.S. negotiation team, to address Vietnam’s outstanding concerns.

Greer praised Vietnam’s constructive engagement and noted the importance of concluding a reciprocal taxation agreement, particularly given Vietnam’s status as a comprehensive strategic partner of the U.S..

He offered feedback on Vietnam’s key concerns and proposed potential solutions to tackle complex points during the negotiation process.

Both sides agreed to push for meaningful progress at the upcoming round of talks and instructed their technical teams to intensify virtual coordination in the lead-up.

They were also committed to additional ministerial-level meetings if needed to ensure the negotiations stay on track.

The talks follow the U.S. government’s April 3 announcement of a new global tariff policy targeting countries with large trade surpluses with the U.S., including Vietnam.

The policy introduced a 46-percent tariff rate on Vietnamese imports, set to take effect on April 9, but its implementation was postponed for 90 days to allow time for negotiations.