Vietnam, US Initiate Trade Talks Amid 46% Tariff Threat

Vietnam and the United States have officially launched bilateral trade negotiations in response to the Trump administration's threat of imposing a 46% tariff on Vietnamese exports. Vietnamese Trade Minister Nguyen Hong Dien and U.S. Trade Representative Jamieson L. Greer recently held a high-level phone call to set out the principles, scope, and roadmap for the talks, emphasizing their commitment to a balanced and mutually beneficial economic relationship. Vietnam, whose exports account for a significant share of its GDP, is seeking to preserve its export-driven economy and strategic ties with the U.S., its largest export market, amidst these protectionist pressures. Both sides expressed readiness to address each other's concerns and work toward sustainable solutions, while agreeing to maintain regular communication at both leadership and technical levels to expedite negotiations. The U.S. has temporarily delayed the full implementation of the tariffs for 90 days, during which a baseline 10% tariff applies. The outcome of these talks is seen as crucial for maintaining investor confidence and Vietnam's role as a key manufacturing hub.