Vietnam and U.S. Push for Game-Changing Trade Agreement

Vietnam is negotiating a trade agreement with the U.S. to potentially exempt certain products from tariffs. Negotiations aim to balance trade flows and record a new trade surplus with the U.S. The conclusion is expected after U.S. court decisions on tariffs imposed by President Trump.

Vietnam is intensifying its efforts to secure a trade agreement with the United States, as Deputy Prime Minister Bui Thanh Son announced a new phase of negotiations in Washington. The primary goal is to finalize a deal that would maintain some U.S. tariffs while exempting certain Vietnamese products.

Michael DeSombre, Assistant Secretary of State for East Asian and Pacific Affairs, emphasized the need to rebalance trade flows and reduce the U.S. deficit with Vietnam. The negotiations, led by Trade Minister Nguyen Hong Dien, focus on tariff exemptions and expanded market access for both nations.

The Vietnamese government is aiming for a high-profile signing between top officials from both countries, but past attempts have faltered. Additionally, Vietnam seeks recognition as a market economy and aims to play a more significant role in global supply chains for critical minerals.

(With inputs from agencies.)