U.S., Vietnam Discuss Trade Deal Amid Tariff Concerns

(MENAFN) Vietnam's Minister of Industry and Trade Nguyen Hong Dien and U.S. Trade Representative Jamieson Greer convened on Jeju Island, South Korea, as reported by a news agency. This face-to-face discussion on Friday represents the first ministerial-level negotiation following their virtual meeting on April 12, aimed at advancing the Vietnam-U.S. Reciprocal Trade Agreement talks.

Sources indicate that both nations achieved a general agreement regarding the fundamental principles, methods, timeline, and agenda for the negotiations, paving the way for significant future advancements. The state-owned media outlet further noted that Greer expressed gratitude for Vietnam's cooperative spirit and proactive preparations for the discussions, largely concurring with Vietnam's strategies and proposals.

This meeting follows the U.S.'s decision to delay the imposition of a 46 percent tariff on Vietnamese goods until July and to commence formal negotiations with Vietnam. In response, Vietnamese Prime Minister Pham Minh Chinh formed a high-ranking negotiation team headed by Dien and directed the creation of a comprehensive negotiation strategy.

In separate news, a local publication reported on Friday that the Vietnamese government has approved a substantial 1.5-billion-U.S.-dollar investment project in northern Hung Yen province by the Trump Organization and its affiliates. This venture, encompassing residential areas, eco-tourism sites, and an upscale golf course, was initially proposed during a meeting between Prime Minister Chinh and representatives from the Trump Organization in March.

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