A Vietnamese technical delegation scheduled to visit the US in early May for trade discussions

A Vietnamese technical delegation is scheduled to visit the US on May 1 to engage in trade discussions and negotiations with relevant U.S. agencies, According to Mr. Do Ngoc Hung, Trade Counselor at the Vietnam Trade Office in the US.

He made the announcement at the monthly trade promotion coordination conference between the Ministry of Industry and Trade and Vietnam’s overseas trade offices on April 28.

According to Mr. Hung, the early start of negotiations signals that Vietnam is among a group of countries prioritized by the US, alongside India, the United Kingdom, Japan, South Korea, and Indonesia. 

“This shows that the US sees Vietnam as an important, serious, and well intentioned partner, and that Vietnam acknowledges the US’s concerns in a substantive manner,” he said.

Prior to temporarily maintaining a 10% import tariff for all nations, the administration of U.S. President Donald Trump had imposed steep reciprocal tariffs on its trading partners, with Vietnam facing a rate of 46%.

On April 23, Vietnamese Minister of Industry and Trade Nguyen Hong Dien, who heads the Vietnamese negotiating delegation, held a phone talks with Mr. Jamieson Greer, Chief Trade Representative of the US, to officially initiate bilateral economic and trade negotiations.

In an official press release, the Office of the United States Trade Representative (USTR) described the phone talks as productive.

Mr. Hung interpreted the move as a sign that the USTR is taking Vietnam’s proposals and negotiation contents seriously.

During the conference, Mr. Hung recommended that key Vietnamese agencies like the Ministry of Foreign Affairs and the Ministry of Industry and Trade intensify their efforts to advocate and negotiate for the resolution of retaliatory tariffs. He also urged the implementation of a clear roadmap to protect Vietnam’s trade interests in the face of potential US. tariff actions.

According to recent statistics, Vietnam’s exports to the US reached $31.4 billion in the first quarter of the year, a 22 per cent increase compared to the same period last year. Meanwhile, imports from the US. stood at $4.1 billion, up 21 per cent.

Mr. Hung noted that the trade structure between the two countries is complementary rather than directly competitive, providing U.S. consumers with increasing access to Vietnamese goods that offer improving quality and competitive prices.  For example, the retailer Target, one of the biggest retail chains in the US,  is sourcing some 30 per cent of its goods from Vietnam.

Mr. Hung emphasized that the imposition of reciprocal tariffs by the US adds volatility and risk to global trade while also creating difficulties for the US market itself. 

“Many major US corporations and retail distribution chains have expressed support and confidence that Vietnam will reach a suitable agreement, whether through the removal or adjustment of these tariffs,” Mr. Hung added.