Vietnam's Economic Diplomacy: A High-Stakes Week in Washington

Vietnam's Deputy Prime Minister is in Washington for high-level talks with U.S. officials and business leaders. Key objectives include negotiating tariff revisions and fostering economic partnerships. Meetings with Boeing, SpaceX, and Apple underscore Vietnam's efforts to balance trade relations amid significant U.S. tariffs on Vietnamese exports.

In a critical week for Vietnam's economic future, Deputy Prime Minister Ho Duc Phoc is in Washington to engage in important discussions with U.S. officials, including Treasury Secretary Scott Bessent. This Southeast Asian nation, heavily reliant on exports, aims to renegotiate recent U.S. tariffs that hit around 30% of its GDP.

With a focus on avoiding economic strain, Phoc's visit entails pivotal meetings with major corporations like Boeing, SpaceX, and Apple. These interactions highlight Vietnam's attempt to strengthen trade ties while addressing concerns raised by the Trump administration regarding trade imbalances and intellectual property issues.

The urgency of Phoc's mission is further stressed by the existing $123.5 billion trade surplus Vietnam holds with the U.S., the fourth largest overall. The meetings could pave the way for revised trade agreements, balancing U.S. concerns with Vietnam's economic needs.

(With inputs from agencies.)