Washington, D.C. – April 9, 2025 | In a key move to deepen economic ties, the United States and Vietnam have agreed to begin negotiations on a reciprocal trade agreement, including discussions on tariffs. Both sides have instructed their technical teams to begin exchanges immediately.
The agreement came during a high-level meeting between Vietnamese Deputy Prime Minister Hồ Đức Phớc and U.S. Trade Representative Jamieson Greer, as part of Mr. Phớc’s visit to the U.S. as a special envoy of General Secretary Tô Lâm to discuss bilateral economic and trade relations.
Deputy Prime Minister Phớc reiterated Vietnam’s strong desire to strengthen and deepen the Comprehensive Strategic Partnership with the United States. He expressed appreciation for U.S. support of a strong, independent, self-reliant, and prosperous Vietnam, while affirming the country’s consistent foreign policy of independence, multilateralism, and economic self-reliance.
Vietnam expressed its readiness to work closely with U.S. counterparts to implement the outcomes of the recent April 4th dialogue between General Secretary Tô Lâm and President Donald Trump, aiming to ensure stable and sustainable economic cooperation for the benefit of both nations’ businesses and people.
Deputy PM Phớc emphasized that Vietnam has proactively introduced multiple measures to help reduce the trade imbalance with the U.S. He also raised concerns over the U.S. decision to impose high tariffs on Vietnamese exports, stating that such actions undermine the spirit of mutual benefit and are inconsistent with the two countries’ strategic partnership.
While welcoming the U.S. decision to delay tariff implementation for 90 days, Mr. Phớc called for early negotiations on a bilateral trade agreement that would serve as a long-term framework to promote balanced and sustainable economic growth.
U.S. Trade Representative Jamieson Greer praised Vietnam’s proactive and constructive approach and reaffirmed the U.S. commitment to strengthening economic ties. He acknowledged the challenges facing the U.S. economy that have led to the current tariff policy under the Trump administration, citing the significant trade deficit with Vietnam as a key concern.
However, he confirmed that the U.S. values its partnership with Vietnam and is committed to working closely to address trade imbalances and deepen collaboration across all sectors.
Both sides agreed to:
- Launch technical-level discussions on a reciprocal trade agreement, including tariff issues;
- Facilitate a more favorable business environment;
- Review and reduce non-tariff barriers;
- Support U.S. businesses looking to invest and operate in Vietnam;
- Strengthen cooperation to prevent trade fraud.
Source: Vietnam Government News
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