Vietnam plans to boost US agricultural imports amid trade tensions

Vietnam is preparing to increase its imports of agricultural products from the United States, as stated by Trade Minister Nguyen Hong Dien. This announcement follows rising global trade tensions, particularly due to new tariffs imposed by the U.S. on steel and aluminum, which could negatively impact Vietnam's economy. During a meeting with U.S. Ambassador to Vietnam, Marc Knapper, Dien emphasized the importance of diversifying products and supply chains to navigate these challenges while advocating for reciprocal access to the U.S. market for Vietnamese agricultural goods. Vietnam recorded a significant trade surplus of over $123 billion with the U.S. last year, with agricultural exports making up a substantial portion of trade. Both nations see potential benefits in enhancing cooperation within the agricultural sector to foster economic growth. The Vietnamese government has established a working group to address risks arising from the ongoing trade disputes.