Vietnam Accelerates Free Trade Talks Amid U.S. Tariff Threats

Vietnam is intensifying negotiations for new free trade agreements while optimizing existing ones to support its export-driven economy against potential U.S. tariffs. Prime Minister Pham Minh Chinh has directed initiatives to solidify economic growth, including tech investments and domestic consumption boosts, amidst global competitive pressures.

Vietnam is ramping up efforts to expedite negotiations for new free trade agreements while maximizing benefits from the 17 existing ones, as its export-dependent economy braces against potential U.S. tariffs.

Prime Minister Pham Minh Chinh has issued a directive urging the trade ministry to conclude or initiate free trade agreement negotiations with countries such as India, Brazil, and Pakistan, along with markets in the Middle East, Africa, Latin America, Central Asia, and Eastern Europe. These efforts come as Vietnam faces a suspended 46% "reciprocal" tariff imposed by the Trump administration, which could threaten its export-reliant growth model.

With no free trade deal with the U.S., Vietnam is taking numerous measures to maintain its eight percent GDP growth target, including steps to ensure economic stability and boost infrastructure and technology investments.

(With inputs from agencies.)