HANOI: Vietnam and the United States agreed to start negotiations on a reciprocal trade agreement, Hanoi said on Thursday (Apr 10), hours after Washington delayed imposing an enormous tariff on the Southeast Asian manufacturing powerhouse.
The United States was Vietnam’s biggest export market in the first three months of the year, but President Donald Trump hit it with a 46 per cent duty as part of a global trade blitz announced last week.
After Trump paused the stiff new tariffs on Wednesday, Vietnam’s Deputy Prime Minister Ho Duc Phoc suggested the two countries “should soon negotiate a bilateral trade agreement … to promote stable and mutually beneficial economic and trade relations”, according to a statement on the government news portal.
Phoc has been appointed by top leader To Lam to negotiate with the United States on tariffs, and he met with US Trade Representative Jamieson Greer on Wednesday.
“The United States agreed that the two sides should initiate negotiations on a reciprocal trade agreement, which would include tariff agreements, and asked technical levels from both sides to begin discussions immediately,” according to the government statement.
Phoc had meetings with senators and many organisations and businesses while in the United States, the statement added.
Source: CNA
