Vietnam, US Begin Negotiations on Trade Agreement

Vietnam and the United States have agreed to initiate negotiations for a reciprocal trade agreement, as announced after a meeting between Vietnamese Deputy Prime Minister Ho Duc Phoc and U.S. Trade Representative Jamieson Greer. This development follows the U.S. decision to pause a 46% tariff on Vietnamese exports for 90 days, with both nations aiming to eliminate non-tariff barriers. Phoc emphasized Vietnam's commitment to strengthening its Comprehensive Strategic Partnership with the U.S. and expressed the need for stable economic relations, citing recent proactive measures taken by Vietnam to address the trade deficit. The Vietnamese government views the proposed trade agreement as a long-term framework to ensure mutually beneficial economic ties. This move comes amidst broader trade discussions involving multiple countries seeking deals with the U.S. in light of recent tariff impositions by the Trump administration.