Vietnam Strengthens U.S. Trade Ties Amid Tariff Challenges

Vietnam has pledged to purchase more American goods, including defense products, while requesting a delay on U.S. tariffs. Prime Minister Pham Minh Chinh announced intentions to negotiate balanced trade relations and address concerns such as intellectual property and transshipment, amidst fluctuating stock indices in Vietnam.

Vietnam has committed to increasing its purchases of American goods, including defense and security products, in response to the United States' recent tariff impositions. Prime Minister Pham Minh Chinh announced these intentions, alongside a request for a 45-day delay in applying U.S. tariffs, as part of efforts to balance trade relations.

The Southeast Asian nation, a crucial manufacturing hub for various Western companies, reported a trade surplus exceeding $123 billion with the U.S. last year. Chinh emphasized Vietnam's aim to negotiate a fair trade framework, seeking to delay the U.S. President's 46% tariff rate to facilitate discussions.

Concerns from U.S. trade advisers over issues such as intellectual property violations and transshipment from China have been acknowledged. Vietnam aims to address these by reviewing monetary policies, exchange rates, and adjusting its bilateral trade agreement with the U.S., as their stock index experiences significant fluctuations.

(With inputs from agencies.)