HANOI: Vietnam and the USA have began a second spherical of commerce negotiations in Washington, the Vietnamese authorities mentioned on Tuesday (Might 20) because it seeks a deal to keep away from a threatened 46 per cent tariff fee that might weaken its export-driven progress mannequin.
The second spherical of formal talks for a bilateral commerce deal started on Monday and can run till Might 22, the commerce ministry mentioned in a press release. The first round of talks was held earlier this month.
“The 2 international locations had discussions on the general method to resolving basic problems with mutual concern and accelerating the negotiation course of,” the ministry mentioned.
“Vietnam and the US are additionally talking about present insurance policies as a foundation for continuing to subsequent steps.”
Commerce Minister Nguyen Hong Dien is main the delegation, which incorporates representatives from sectors equivalent to development, agriculture and expertise, in addition to officers from the central financial institution and finance ministry.
Dien additionally met together with his US counterpart Jamieson Greer in South Korea final week, following an APEC assembly.
The US has delayed the implementation of the 46 per cent tariff on Vietnam till July, substituting it with a ten per cent fee. If enforced, the tariff might disrupt Vietnam’s progress, given its heavy reliance on exports to the US, its largest market.
Vietnam, which is a big regional manufacturing base for a lot of Western firms, recorded a commerce surplus of over US$123 billion with the US in 2024.
In a bid to reduce that surplus, Hanoi has applied a number of measures, together with curbing shipments of Chinese language items to the US by way of its territory and growing its purchases of US items.
Dien additionally held discussions on nuclear expertise with US energy firm Westinghouse on Monday, the ministry mentioned, after the federal government final 12 months resumed plans to develop nuclear energy vegetation.
Westinghouse didn’t instantly reply to a request for remark exterior of US enterprise hours.
In a separate assertion, the finance ministry mentioned state power agency PetroVietnam deliberate to purchase extra crude oil from Exxon Mobil, whereas the nation’s rubber and maritime companies had been each trying to set up US services.
