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It is expected that on May 1st, a Vietnamese technical-level delegation will travel to the US to work with the country's relevant agencies on bilateral trade negotiations.
The information was provided by Mr. Đỗ Ngọc Hưng, Commercial Counselor of the Vietnam Trade Office in the U.S., on April 29. According to Mr. Hưng, Vietnam is in a group of countries prioritized by the U.S. for negotiations, along with India, the UK, Japan, South Korea, and Indonesia.
It is expected that on May 1st, a Vietnamese technical-level delegation will travel to the U.S. and work with relevant agencies of that country. "This shows that the U.S. considers Vietnam a serious and important partner, with good will, and genuinely acknowledges their concerns," Mr. Hưng commented.
Lach Huyen port complex, Hai Phong, on January 20. Photo: Lê Tân
The administration of President Donald Trump has postponed high retaliatory tariffs on dozens of trade partners for 90 days, including Vietnam. A temporary tariff of 10% has been applied.
On April 23, Minister of Industry and Trade Nguyễn Hồng Diên - head of the trade negotiation delegation with the U.S. - held a phone call with U.S. Trade Representative Jamieson L. Greer to officially launch negotiations on bilateral Vietnam-U.S. economic and trade issues. This was an important meeting to discuss the principles, scope, and roadmap for the negotiations. One day later, the Office of the U.S. Trade Representative (USTR) described this phone call as "productive" for discussing the two countries' bilateral trade relations.
According to the representative of the Viaetnam Trade Office in the U.S., this move by the USTR shows the U.S.'s serious consideration of the outcomes and content proposed by Vietnam during the exchange.
Mr. Hưng recommended that Vietnam's leading agencies continue to strengthen diplomatic and negotiation efforts to lobby for and address retaliatory tariff issues. Additionally, Vietnam needs to implement a specific roadmap to protect its trade interests against potential tariffs from the administration of President Donald Trump.
According to statistics, in the first quarter of the year, Vietnam's exports to the U.S. reached 31.4 billion USD, an increase of 22% compared to the same period last year. In contrast, Vietnam's imports from the U.S. reached 4.1 billion USD, an increase of 21% over the same period.
Mr. Hưng assessed that the foreign trade structures of the two countries are complementary, not in direct competition, and help U.S. consumers access Vietnamese export goods with increasingly improved quality and competitive prices.
The U.S.'s application of retaliatory tariffs, according to Mr. Hưng, creates instability and risk for global trade and difficulties for the U.S. market itself. "Many large businesses and major retail chains in the U.S. have shown their support and confidence that Vietnam will reach an appropriate agreement, either through the removal of retaliatory tariffs or their adjustment to a suitable level," Mr. Hưng informed.
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