US Adjusts Reciprocal Tariffs on Vietnam

The White House, under President Donald Trump's directive, has announced a significant adjustment to reciprocal tariffs affecting Vietnam, among other countries. This move marks a pivotal moment in US-Vietnam trade relations, aiming to balance trade disparities.

Negotiations and Progress

Following the US's initial postponement of tariff impositions, Vietnam, led by Prime Minister Pham Minh Chinh, formed a negotiation team. The discussions have yielded progress across various sectors including tariffs, digital trade, and sustainable development.

Future Trade Relations

Both nations are committed to finalizing a reciprocal trade agreement based on mutual respect and benefit. This agreement is expected to strengthen the Vietnam-US Comprehensive Strategic Partnership, fostering stable economic and trade relations.

Trade Figures Highlight Surplus

With a two-way trade reaching $149.7 billion in 2024, Vietnam holds a significant trade surplus with the US. The first five months of the year saw a 36.5% increase in trade, underscoring the growing economic ties between the two countries.