Vietnam and US move closer to trade pact in high-level virtual talks

The Ministry of Industry and Trade and its US counterparts holding virtual talks on June 19

The negotiation session took place in an open and constructive atmosphere, with both sides actively exploring solutions to resolve key tariff-related challenges in the bilateral trade talks. Minister Nguyen Hong Dien welcomed the proposals made by US Secretary of Commerce Lutnick and US Trade Representative Greer.

Minister Nguyen Hong Dien emphasised that Vietnam wants to work with the US to build harmonious, practical rules of origin that are suitable for the characteristics of the global supply chain, non-discriminatory and create stronger conditions for businesses from both nations.

He suggested the US consider proposals of Vietnam, including reciprocal tax policies and market access for some key export groups.

US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer highly appreciated Vietnam's efforts and goodwill in handling issues of US concern. These will be a basis for the US side to consider reciprocal tax policies appropriate to Vietnam's specific conditions and circumstances.

They both stated the US' desire and determination to negotiate with Vietnam for an agreement that suits the interests of both countries. Greer said that the US Trade Representative will soon complete and send to Vietnam the essential documents for the two sides to focus on discussions.

After the US announced the postponement of the reciprocal tax imposition and agreed to start negotiations with Vietnam, Prime Minister Pham Minh Chinh established a government negotiating team. Minister Dien is the head of the negotiating team. Since early May, a Vietnamese technical exchange delegation has been working on bilateral trade negotiations with relevant US agencies.

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