Vietnam Begins Trade Talks With US Amid Looming 46% Tariffs

Vietnam has initiated trade talks with the United States to address the threat of a 46% U.S. tariff, which, if implemented in July, could severely impact its export-driven economy. Both countries have expressed interest in reaching a mutual agreement to ensure a stable and sustainable trade relationship. In response to U.S. concerns, Vietnam’s government has ordered officials to combat trade fraud, counterfeiting, and illegal transshipment, particularly to address accusations of Chinese goods being rerouted through Vietnam to evade U.S. tariffs. The Vietnamese trade ministry has also issued directives to strengthen the supervision of imports and verify the origin of goods. Prime Minister Pham Minh Chinh emphasized the need to thoroughly prepare for negotiations while ensuring that solutions do not negatively impact Vietnam's commitments to other trading partners.