Global Economic Challenges Prompt Vietnam-US Trade Talks

In the face of a complex and unpredictable global situation, particularly the U.S.'s high "reciprocal" tariffs, Vietnam is gearing up for crucial trade negotiations with the United States starting May 7. The Vietnamese Prime Minister highlighted the negative impacts of these tariffs on global economic growth, supply chains, and international trade flows during a recent National Assembly meeting.

Vietnam's Strategic Response to Trade Challenges

Despite the challenges, Vietnam has adopted a calm, proactive, and flexible approach, implementing timely measures that have already shown positive results. A Vietnamese delegation's recent visit to the U.S. marks a proactive step towards engaging with relevant agencies on trade matters.

Focus of Upcoming Negotiations

The upcoming negotiations will focus on safeguarding Vietnam's legitimate rights and interests, promoting balanced and sustainable trade, and ensuring no adverse effects on Vietnam's international agreements. With Vietnam's exports to the U.S. seeing a significant jump, the talks are timely.

Economic Growth and Future Plans

Vietnam's economy, despite facing challenges, showed remarkable resilience with a GDP growth of 7.09% last year. The government is now focusing on restructuring the economy based on science, technology, innovation, and digital transformation, aiming for an 8% GDP growth in 2025.