Latest news with #USVietnamTrade
South China Morning Post
13 hours ago
- Business
- South China Morning Post
Vietnam's Pham Minh Chinh says ‘positive' results possible before US tariff deadline
Vietnamese Prime Minister Pham Minh Chinh has expressed confidence about 'positive' results ahead of the US trade deal deadline in two weeks, while pledging to maintain a 'good balance' between the US and China 'I hope that you will see that the result will come earlier than two weeks,' Pham told the World Economic Forum's summer meeting in the Chinese city of Tianjin on Wednesday. 'We have self-confidence. We would arrive at something positive, and that will bring about benefits to the US, to American consumers, to us … to all countries around the world.' The Annual Meeting of the New Champions, also known as ' Summer Davos ', comes as dozens of US trade partners approach the expiry of a 90-day pause on tariffs imposed by the Trump administration. Vietnam has been among the hardest hit by President Donald Trump's global tariff war launched on April 2. Hanoi has been in active negotiations with the US – its largest export market – to avoid the 46 per cent duties set to be imposed on Vietnamese products from July 9, the deadline Trump set for a deal. 08:13 After Vietnam threatened with 46% US tariffs, how will Hanoi strike a deal with Washington? After Vietnam threatened with 46% US tariffs, how will Hanoi strike a deal with Washington? Vietnam's Communist Party chief To Lam is expected to travel to the US in the coming weeks to finalise an agreement, including offering to buy more Boeing aircraft and tariff reductions to between 20 and 25 per cent, Bloomberg reported last week. The two countries are also reported to be close to reaching a trade framework following several rounds of negotiations.
CNA
17-05-2025
- Business
- CNA
Vietnam steps up talks with US to reduce hefty tariff
HANOI: Vietnam and the United States held their first direct ministerial-level negotiations on Friday (May 16) against the backdrop of an impending US tariff of 46 per cent on imports from the Southeast Asian nation, which could significantly impact its growth. The Vietnamese trade ministry said in a statement released on Saturday that the meeting, which occurred in Jeju, South Korea, following the 31st APEC Ministerial Meeting on Trade, symbolised both nations' commitment to fostering a stable economic, trade, and investment relationship. The talks follow a phone call last month between Vietnamese trade minister Nguyen Hong Dien and US Trade Representative Jamieson Greer that officially started negotiations. "USTR Greer agreed with Vietnam's current approach and proposal," the trade ministry's statement said. "The United States hopes that with the mutual efforts, the technical-level negotiations in the coming days will yield positive results." The US has postponed the implementation of the 46 per cent tariff on Vietnam until July. If enforced, the levy could disrupt growth in Vietnam, which is heavily dependent on sales to the United States, its largest export market, and substantial foreign investments in manufacturing goods for export. Vietnam has the fourth-largest trade surplus among all US trading partners, worth $123.5 billion last year. In an attempt to diminish that trade surplus, Hanoi has recently implemented several measures, including reducing tariffs on a multitude of goods destined for the US and intensifying its efforts to curb the shipment of Chinese goods to the US via its territory.
Al Arabiya
17-05-2025
- Business
- Al Arabiya
Vietnam steps up talks with US to reduce hefty tariff
Vietnam and the United States held their first direct ministerial-level negotiations on Friday against the backdrop of an impending US tariff of 46 percent on imports from the Southeast Asian nation, which could significantly impact its growth. The Vietnamese trade ministry said in a statement released on Saturday that the meeting, which occurred in Jeju, South Korea, following the 31st APEC Ministerial Meeting on Trade, symbolized both nations' commitment to fostering a stable economic, trade, and investment relationship. The talks follow a phone call last month between Vietnamese trade minister Nguyen Hong Dien and US Trade Representative Jamieson Greer that officially started negotiations. 'USTR Greer agreed with Vietnam's current approach and proposal,' the trade ministry's statement said. 'The United States hopes that with the mutual efforts, the technical-level negotiations in the coming days will yield positive results.' The US has postponed the implementation of the 46 percent tariff on Vietnam until July. If enforced, the levy could disrupt growth in Vietnam, which is heavily dependent on sales to the United States, its largest export market, and substantial foreign investments in manufacturing goods for export. Vietnam has the fourth-largest trade surplus among all US trading partners, worth $123.5 billion last year. In an attempt to diminish that trade surplus, Hanoi has recently implemented several measures, including reducing tariffs on a multitude of goods destined for the US and intensifying its efforts to curb the shipment of Chinese goods to the US via its territory.
Arab News
17-05-2025
- Business
- Arab News
Vietnam steps up talks with US to reduce hefty tariff
HANOI: Vietnam and the United States held their first direct ministerial-level negotiations on Friday against the backdrop of an impending US tariff of 46 percent on imports from the Southeast Asian nation, which could significantly impact its growth. The Vietnamese trade ministry said in a statement released on Saturday that the meeting, which occurred in Jeju, South Korea, following the 31st APEC Ministerial Meeting on Trade, symbolized both nations' commitment to fostering a stable economic, trade, and investment relationship. The talks follow a phone call last month between Vietnamese trade minister Nguyen Hong Dien and US Trade Representative Jamieson Greer that officially started negotiations. 'USTR Greer agreed with Vietnam's current approach and proposal,' the trade ministry's statement said. 'The United States hopes that with the mutual efforts, the technical-level negotiations in the coming days will yield positive results.' The US has postponed the implementation of the 46 percent tariff on Vietnam until July. If enforced, the levy could disrupt growth in Vietnam, which is heavily dependent on sales to the United States, its largest export market, and substantial foreign investments in manufacturing goods for export. Vietnam has the fourth-largest trade surplus among all US trading partners, worth $123.5 billion last year. In an attempt to diminish that trade surplus, Hanoi has recently implemented several measures, including reducing tariffs on a multitude of goods destined for the US and intensifying its efforts to curb the shipment of Chinese goods to the US via its territory.
