Việt Nam,ndbd net US to start negotiations on reciprocal trade agreement

April 10, 2025 - 08:10 Your browser does not support the audio element. US Trade Representative Jamieson Greer stated that the US agreed to begin formal negotiations on a reciprocal trade agreement, including discussions on tariffs, and proposed that technical teams from both sides begin consultations immediately,

Deputy Prime Minister Hồ Đức Phớc meets with US Trade Representative Jamieson Greer on Wednesday afternoon (local time) in Washington DC. — VNA/VNS Photos

WASHINGTON DC — Việt Nam and the United States have agreed to launch negotiations on a reciprocal trade agreement, which will include provisions related to tariffs.

The agreement was reached on Wednesday afternoon (local time) during a meeting between Deputy Prime Minister Hồ Đức Phớc and US Trade Representative Jamieson Greer. The meeting took place during Deputy PM Phớc’s visit to the US as a Special Envoy of Party General Secretary Tô Lâm, aimed at discussing bilateral economic and trade issues.

He noted that Việt Nam has proactively implemented various measures to help address the trade imbalance between the two sides and to respond to US concerns.

Deputy Prime Minister Hồ Đức Phớc and US Trade Representative Jamieson Greer pose for a group photo with members of both delegations.

He proposed that, despite the US' fresh decision to postpone tariff imposition for 90 days, both countries should promptly begin negotiations on a bilateral trade agreement. Such an agreement would establish a long-term framework to promote stable and mutually beneficial economic and trade relations, in line with the Comprehensive Strategic Partnership between the two nations.

US Trade Representative Jamieson Greer, for his part, expressed appreciation for Việt Nam’s proactive and constructive measures, which he said reflect the country’s strong commitment to strengthening Việt Nam–US economic and trade ties.

He reaffirmed that the US places great importance on its bilateral relationship with Việt Nam and is eager to cooperate closely in addressing the trade imbalance, with a view to deepening ties across multiple sectors.

He also explained the rationale and economic challenges that led the Trump administration to adopt its current tariff policies, noting that the high tariffs imposed on Vietnamese exports were a response to the substantial trade deficit the US holds with Việt Nam.

The US agreed to begin formal negotiations on a reciprocal trade agreement, including discussions on tariffs, and proposed that technical teams from both sides begin consultations immediately, he said.

Deputy Prime Minister Hồ Đức Phớc and the Vietnamese delegation discuss with US Trade Representative Jamieson Greer and the US delegation on Wednesday afternoon (local time).

Both sides agreed to maintain close coordination in promoting a favourable business environment. They committed to proactively reviewing and minimising non-tariff barriers on each other’s goods, facilitating greater US investment and business activity in Việt Nam, and enhancing cooperation to prevent and combat trade fraud.

Deputy Prime Minister Hồ Đức Phớc had talks with Senator Bill Hagerty (Republican Party). — VNA/VNS Photo

On April 8–9, Deputy PM Phớc held meetings with Senator Bill Hagerty and Senator Steve Daines, as well as with various US organisations and businesses.

The Vietnamese official expressed appreciation for the continued support of the US Congress and the senators for the Việt Nam–US relationship. He welcomed the positive developments in bilateral ties since the two countries upgraded their relationship to a Comprehensive Strategic Partnership and highlighted the significance of 2025 as the 30th anniversary of the normalisation of diplomatic relations.

Speaking on economic and trade relations, Deputy PM Phớc emphasised that Việt Nam and the US have complementary economies, stating that Việt Nam does not compete with US competitive export products and is a major importer of US services and high-tech goods.

He also noted that Việt Nam has proactively addressed many of the US' trade-related concerns.

He called on the US Congress to continue supporting the lifting of tariff measures on Vietnamese goods and to encourage progress toward a sustainable and long-term bilateral trade agreement that serves the interests of both nations’ citizens and businesses.

Both senators recalled fond memories of their visits to Việt Nam and expressed their hope that bilateral relations will continue to flourish and contribute positively to regional and global peace and stability.

They commended Việt Nam’s proactive approach to resolving tariff-related issues with the US and reaffirmed their support for strengthening Việt Nam–US trade relations based on shared strategic interests. They expressed confidence that the two countries would soon launch negotiations and find effective solutions to foster a stable and mutually beneficial economic partnership.

During his time in the US, Deputy PM Phớc also met with various experts, scholars and leading businesses from both Việt Nam and the US, and witnessed the signing ceremony of a Memorandum of Understanding on cooperation between Việt Nam’s Vietjet and US-based Air Finance. — VNS