Latest news with #NguyenHongDien
The Star
23-05-2025
- Business
- The Star
Vietnam expresses willingness to combat trade fraud in US tariff talks
HANOI (Reuters): Vietnam said on Friday its trade minister met with the US Commerce Secretary and senators during a visit to the United States, pledging during talks on tariffs to narrow their trade gap and combat trade fraud and illegal transhipment. Vietnam and the United States this week concluded a second round of trade negotiations, as the South-East Asian industrial hub seeks a deal to avoid a 46% tariff rate on Vietnamese goods, imposed largely due to its big trade surplus with Washington. During the meeting with the U.S. Commerce Secretary Howard Lutnick, Trade Minister Nguyen Hong Dien also urged the United States to recognise Vietnam as a market economy soon and to remove it from its strategic export control lists, the ministry said. Despite Vietnam consistently being one of Asia's fastest-growing economies in the past two decades and its multiple free-trade agreements, the United States still recognises it as a non-market economy, despite Hanoi arguing it has made sufficient reforms to justify an upgrade. The United States is Vietnam's largest export market and its trade surplus with Washington exceeded US$123 billion last year, a trade gap Hanoi says it is committed to narrowing. "This would bring practical benefits to both countries and help improve bilateral trade in a fairer, more harmonious and more sustainable manner," the ministry said in a statement. Dien also separately met US senators, including Ted Cruz and Steve Daines, and pledged during the meetings to promote more balanced bilateral trade. (Reporting by Khanh Vu; Editing by Martin Petty) - Reuters
Yahoo
23-05-2025
- Business
- Yahoo
Vietnam expresses willingness to combat trade fraud in US tariff talks
HANOI (Reuters) -Vietnam said on Friday its trade minister met with the U.S. Commerce Secretary and senators during a visit to the United States, pledging during talks on tariffs to narrow their trade gap and combat trade fraud and illegal transhipment. Vietnam and the United States this week concluded a second round of trade negotiations, as the Southeast Asian industrial hub seeks a deal to avoid a 46% tariff rate on Vietnamese goods, imposed largely due to its big trade surplus with Washington. During the meeting with the U.S. Commerce Secretary Howard Lutnick, Trade Minister Nguyen Hong Dien also urged the United States to recognise Vietnam as a market economy soon and to remove it from its strategic export control lists, the ministry said. Despite Vietnam consistently being one of Asia's fastest-growing economies in the past two decades and its multiple free-trade agreements, the United States still recognises it as a non-market economy, despite Hanoi arguing it has made sufficient reforms to justify an upgrade. The United States is Vietnam's largest export market and its trade surplus with Washington exceeded $123 billion last year, a trade gap Hanoi says it is committed to narrowing. "This would bring practical benefits to both countries and help improve bilateral trade in a fairer, more harmonious and more sustainable manner," the ministry said in a statement. Dien also separately met U.S. senators, including Ted Cruz and Steve Daines, and pledged during the meetings to promote more balanced bilateral trade.
Reuters
23-05-2025
- Business
- Reuters
Vietnam expresses willingness to combat trade fraud in US tariff talks
HANOI, May 23 (Reuters) - Vietnam said on Friday its trade minister met with the U.S. Commerce Secretary and senators during a visit to the United States, pledging during talks on tariffs to narrow their trade gap and combat trade fraud and illegal transhipment. Vietnam and the United States this week concluded a second round of trade negotiations, as the Southeast Asian industrial hub seeks a deal to avoid a 46% tariff rate on Vietnamese goods, imposed largely due to its big trade surplus with Washington. During the meeting with the U.S. Commerce Secretary Howard Lutnick, Trade Minister Nguyen Hong Dien also urged the United States to recognise Vietnam as a market economy soon and to remove it from its strategic export control lists, the ministry said. Despite Vietnam consistently being one of Asia's fastest-growing economies in the past two decades and its multiple free-trade agreements, the United States still recognises it as a non-market economy, despite Hanoi arguing it has made sufficient reforms to justify an upgrade. The United States is Vietnam's largest export market and its trade surplus with Washington exceeded $123 billion last year, a trade gap Hanoi says it is committed to narrowing. "This would bring practical benefits to both countries and help improve bilateral trade in a fairer, more harmonious and more sustainable manner," the ministry said in a statement. Dien also separately met U.S. senators, including Ted Cruz and Steve Daines, and pledged during the meetings to promote more balanced bilateral trade.
Free Malaysia Today
22-05-2025
- Business
- Free Malaysia Today
Vietnam says more tariff negotiations with US needed
The second round of talks took place in Washington on May 19-22, involving the US trade representative Jamieson Greer and Vietnam's trade minister Nguyen Hong Dien. (Bloomberg pic) HANOI : The US and Vietnam have concluded a second round of trade negotiations on tariffs and agreed to continue the talks to address unresolved issues, Vietnam's trade ministry said in a statement today. The second round of talks took place in Washington on May 19-22, involving Vietnam's trade minister Nguyen Hong Dien and the US trade representative Jamieson Greer, the Vietnamese ministry said on its website, showing pictures of meetings. 'At the end of the negotiation round, Vietnam and the US made positive progress, identifying groups of issues on which consensus was close, and groups of issues that needed further discussion to reach consensus in the coming time,' the statement said, without elaborating. It noted that talks will need to continue in early June. The US trade representative did not immediately reply to a request for comment outside of US business hours. Vietnam heavily relies on exports to the US and faces one of the highest 'reciprocal' tariff rates set by the White House at 46%. Those duties have been paused globally by Washington until July.
CNA
22-05-2025
- Business
- CNA
Vietnam says more tariff negotiations with US needed
HANOI: The United States and Vietnam have concluded a second round of trade negotiations on tariffs and agreed to continue the talks to address unresolved issues, Vietnam's trade ministry said in a statement on Thursday (May 22). The second round of talks took place in Washington on May 19-22 involving Vietnam's Trade Minister Nguyen Hong Dien and the US Trade Representative Jamieson Greer, the Vietnamese ministry said on its website showing pictures of meetings. "At the end of the negotiation round, Vietnam and the United States made positive progress, identifying groups of issues on which consensus was close, and groups of issues that needed further discussion to reach consensus in the coming time," the statement said, without elaborating. It noted that talks will need to continue in early June. The US Trade Representative did not immediately reply to a request for comment outside of US business hours. Vietnam heavily relies on exports to the US and faces one of the highest "reciprocal" tariff rates set by the White House at 46 per cent.
