Latest news with #Dien
Time of India
3 days ago
- Business
- Time of India
Vietnam talks to Gap, Levi Strauss in battle to head off Trump tariffs
Vietnam has sought to enlist major US garment companies including Gap and Levi Strauss as it tries to head off President Donald Trump's threatened 46 percent trade tariff. The country, a major producer of clothing and footwear for international brands, has the third-biggest trade surplus with the United States after China and Mexico, making it a target for Trump's "Liberation Day" tariff blitz in April. Officials have been locked in talks with their US counterparts to avoid being hit, seeking support from American tech giants and signing agriculture deals with Washington to ease the problem. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo On a visit to the United States, Vietnam's minister of industry and trade Nguyen Hong Dien on Monday met leaders from the American Apparel and Footwear Association (AAFA) and leading brands Gap, Levi Strauss, and Under Armour. The United States was Vietnam's number one export market with $57 billion in the first five months of 2025 -- up from $44 billion over the same period a year ago. Live Events Textiles and footwear were among the leading products sent to American clients. A trade ministry statement posted online late Tuesday said Dien wanted to cement Vietnam's willingness "to be a reliable partner in the global supply chain". "Cooperation with Vietnam will bring long-term strategic benefits and contribute to improving the trade balance in a fair, harmonious and sustainable direction between the two countries," he was quoted as saying. Dien also met Jeffrey Perlman, the head of Warburg Pincus Investment Fund, the statement said. When announcing his raft of levies in April, Trump claimed Vietnam charged the United States a 90 percent tariff, which was based on Hanoi's trade surplus of $123.5 billion last year. His administration also appeared particularly angry about what it sees as the Asian nation's role in attempts to get around tariffs imposed on China. But given Vietnam's vital role in global supply chains, many parties -- including US companies in the country -- have urged the White House to walk back the tariffs. Vietnamese and US trade negotiators held their latest round of talks in Paris last week, and are scheduled to meet again in the next few days. Hanoi last week signed several agreements worth up to $3 billion of agricultural products and other raw materials from the United States as it sought to rebalance their trading partnership. Trump's real estate group also broke ground last month on a $1.5 billion luxury golf resort in Vietnam, while his son Eric has been scouting locations for a potential tower project in Ho Chi Minh City, the country's southern business hub.
Fibre2Fashion
21-05-2025
- Business
- Fibre2Fashion
US, Vietnam begin 2nd round of trade pact talks
The second round of negotiations on a Vietnam-US reciprocal trade agreement is under way in Washington, DC, according to the Vietnamese Ministry of Industry and Trade (MoIT). The Vietnamese delegation is being led by MoIT Minister Nguyen Hong Dien. The second round of talks on a Vietnam-US reciprocal trade agreement is under way in Washington, DC, the Vietnamese Ministry of Industry and Trade (MoIT) said. MoIT Minister Nguyen Hong Dien, leading the country's delegation, also met representatives from nuclear technology firm Westinghouse and conveyed them that Vietnam wants to restart its nuclear power programme to ensure energy security. Dien also met representatives from Westinghouse, a nuclear technology corporation, and conveyed them that Vietnam intends to restart its nuclear power programme to ensure energy security amid rising electricity demand and the current limitations of renewable energy sources. Energy cooperation will also be an important driver for balancing bilateral trade, the minister affirmed. Both sides agreed to work towards signing a memorandum of understanding between Westinghouse and the Vietnam National Industry-Energy Group (Petrovietnam) in nuclear power development, a Vietnamese news agency reported. The two sides will also continue to promote cooperation, particularly in critical areas like investment models for energy infrastructure, technology transfer and the training and development of technical personnel for the nuclear power sector. Fibre2Fashion News Desk (DS)
The Star
21-05-2025
- Business
- The Star
Vietnam minister meets Lockheed Martin, SpaceX on US visit for tariff talks
HANOI: Vietnam's Trade Minister Nguyen Hong Dien (pic) met officials of US firms such as Excelerate Energy, Lockheed Martin, SpaceX and Google during a trip to Washington for tariff negotiations with the Trump administration, state media said on Wednesday (May 21). Vietnam wants the meetings to show President Donald Trump that it wishes to boost ties with the US and facilitate US investment in the country, Vietnam News Agency reported. "The Comprehensive Strategic Partnership between Vietnam and the US has been strongly promoting and creating favourable conditions for US companies to invest and do business smoothly in Vietnam," the report cited Dien as saying. Vietnam and the US this week started a second round of trade negotiations in Washington, as the South-East Asian industrial hub seeks a deal to avoid a threatened 46% tariff rate on Vietnamese goods. Dien said Vietnam wanted to boost its cooperation with Lockheed Martin as the country plans to launch a new-generation communication satellite late next year, according to the report. Last year, sources said there were talks on sales of Lockheed Martin C-130 Hercules military transport planes to Hanoi. At his meeting with SpaceX government affairs official Tim Hughes, Dien showed his appreciation for the company's plan to invest US$1.5 billion in Starlink satellite services in the country, and urged it to expand investment to other areas such as clean energy, information technology and high-tech training. Meeting with Excelerate executives, Dien said the company's plan to sell American liquefied natural gas to Vietnam is in line with the country's energy development strategy. Hanoi has implemented several measures to narrow its trade surplus with the US, which exceeded $123 billion last year, including by cutting tariffs on US goods and tackling shipments of Chinese goods to the US via its territory. The finance ministry said on Tuesday Vietnamese companies are also planning to build logistics centres and an industrial park in the US to facilitate bilateral trade and investment. - Reuters
Yahoo
21-05-2025
- Business
- Yahoo
Vietnam minister meets Lockheed Martin, SpaceX on U.S. visit for tariff talks
HANOI (Reuters) -Vietnam's Trade Minister Nguyen Hong Dien met officials of U.S. firms such as Excelerate Energy, Lockheed Martin, SpaceX and Google during a trip to Washington for tariff negotiations with the Trump administration, state media said on Wednesday. Vietnam wants the meetings to show President Donald Trump that it wishes to boost ties with the U.S. and facilitate U.S. investment in the country, Vietnam News Agency reported. "The Comprehensive Strategic Partnership between Vietnam and the U.S. has been strongly promoting and creating favourable conditions for U.S. companies to invest and do business smoothly in Vietnam," the report cited Dien as saying. Vietnam and the U.S. this week started a second round of trade negotiations in Washington, as the Southeast Asian industrial hub seeks a deal to avoid a threatened 46% tariff rate on Vietnamese goods. Dien said Vietnam wanted to boost its cooperation with Lockheed Martin as the country plans to launch a new-generation communication satellite late next year, according to the report. Last year, sources said there were talks on sales of Lockheed Martin C-130 Hercules military transport planes to Hanoi. At his meeting with SpaceX government affairs official Tim Hughes, Dien showed his appreciation for the company's plan to invest $1.5 billion in Starlink satellite services in the country, and urged it to expand investment to other areas such as clean energy, information technology and high-tech training. Meeting with Excelerate executives, Dien said the company's plan to sell American liquefied natural gas to Vietnam is in line with the country's energy development strategy. Hanoi has implemented several measures to narrow its trade surplus with the U.S., which exceeded $123 billion last year, including by cutting tariffs on U.S. goods and tackling shipments of Chinese goods to the U.S. via its territory. The finance ministry said on Tuesday Vietnamese companies are also planning to build logistics centres and an industrial park in the U.S. to facilitate bilateral trade and investment.
Yahoo
21-05-2025
- Business
- Yahoo
Vietnam minister meets Lockheed Martin, SpaceX on U.S. visit for tariff talks
HANOI (Reuters) -Vietnam's Trade Minister Nguyen Hong Dien met officials of U.S. firms such as Excelerate Energy, Lockheed Martin, SpaceX and Google during a trip to Washington for tariff negotiations with the Trump administration, state media said on Wednesday. Vietnam wants the meetings to show President Donald Trump that it wishes to boost ties with the U.S. and facilitate U.S. investment in the country, Vietnam News Agency reported. "The Comprehensive Strategic Partnership between Vietnam and the U.S. has been strongly promoting and creating favourable conditions for U.S. companies to invest and do business smoothly in Vietnam," the report cited Dien as saying. Vietnam and the U.S. this week started a second round of trade negotiations in Washington, as the Southeast Asian industrial hub seeks a deal to avoid a threatened 46% tariff rate on Vietnamese goods. Dien said Vietnam wanted to boost its cooperation with Lockheed Martin as the country plans to launch a new-generation communication satellite late next year, according to the report. Last year, sources said there were talks on sales of Lockheed Martin C-130 Hercules military transport planes to Hanoi. At his meeting with SpaceX government affairs official Tim Hughes, Dien showed his appreciation for the company's plan to invest $1.5 billion in Starlink satellite services in the country, and urged it to expand investment to other areas such as clean energy, information technology and high-tech training. Meeting with Excelerate executives, Dien said the company's plan to sell American liquefied natural gas to Vietnam is in line with the country's energy development strategy. Hanoi has implemented several measures to narrow its trade surplus with the U.S., which exceeded $123 billion last year, including by cutting tariffs on U.S. goods and tackling shipments of Chinese goods to the U.S. via its territory. The finance ministry said on Tuesday Vietnamese companies are also planning to build logistics centres and an industrial park in the U.S. to facilitate bilateral trade and investment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
