The US agreed to begin negotiations on a reciprocal trade agreement with Vietnam, including agreements on tariffs, as proposed by Vietnamese Deputy Prime Minister Ho Duc Phoc at his meeting with US Trade Representative Jamieson Greer in the US on April 9 (local time).

Mr. Phoc is paying a working visit to the US in his capacity as special envoy of Party General Secretary To Lam.

He emphasized that Vietnam has proactively implemented various measures in recent times to help address the trade imbalance between the two countries and respond to the concerns raised by the US.

He proposed that, although the US has decided to delay the imposition of tariffs by 90 days, the two countries should promptly begin negotiations on a bilateral trade agreement in order to establish a long-term framework to promote a stable and mutually beneficial economic and trade relationship, in line with the Comprehensive Strategic Partnership.

For his part, Mr. Greer proposed that technical-level representatives from both countries start discussions immediately.

He lauded Vietnam’s proactive and positive steps, which demonstrate the country’s strong commitment to advancing the bilateral economic and trade ties.

At the meeting, the two sides consented to continue working closely together to promote a favorable business environment, proactively review and minimize non-tariff barriers on each other’s goods, facilitate greater investment and business activities by US companies in Vietnam, and enhance cooperation in monitoring and preventing trade fraud.