Trump and Vietnam's To Lam Pursue Tariff Truce to Strengthen Trade Ties

U.S. President Donald Trump and Vietnam's leader To Lam discussed reducing tariffs, aiming to cut Vietnam's tariffs on U.S. goods to zero. Vietnam seeks similar concessions from the U.S. Amid rising tariff tensions, both countries continue negotiations on a bilateral agreement, impacting major industries and stock markets.

In an effort to ease trade tensions, U.S. President Donald Trump and Vietnam's leader, To Lam, have made strides towards a potential deal to eliminate tariffs. This follows a productive phone call between the two leaders, where Vietnam expressed a desire to reduce tariffs on American goods to zero if an agreement is reached, Trump announced.

Details of the dialogue were confirmed by Lam, who proposed reciprocity in tariff rates on Vietnamese imports to the U.S. The two leaders are committed to ongoing discussions that could lead to a bilateral agreement, with Trump expected to visit Vietnam soon, according to Vietnamese officials.

Vietnam's manufacturing sector, heavily dependent on exports to the United States, faces significant pressure from a 46% tariff imposed by the U.S. The move has shifted sentiment among major global brands with manufacturing bases in Vietnam, as the country seeks ways to mitigate the economic impact.