Latest news with #VietnamUSRelations
Bloomberg
5 hours ago
- Business
- Bloomberg
Vietnam's Top Leader Plans US Trip as Tariff Deadline Looms
Vietnam's Communist Party chief To Lam is preparing to travel to the US in coming weeks as the two sides look to clinch a trade deal before President Donald Trump's higher tariffs kick in, according to people familiar with the matter. Lam aims to meet Trump to help finalize an agreement, the people said, asking not to be identified as the trip isn't finalized yet. It's unclear what date the party chief will travel, although preparations are being made for him to be there in the next few weeks, they said.
Reuters
11 hours ago
- Business
- Reuters
Vietnam, US, hold negotiations on new trade deal, ministry says
HANOI, June 20 (Reuters) - Vietnam and the United States held an online round of negotiations on a new trade deal on Thursday night, the Ministry of Industry and Trade said on Friday. During the negotiations with U.S. Secretary of Commerce Howard Lutnick and Trade Representative Jamieson Greer, Vietnamese trade minister Nguyen Hong Dien asked the U.S. to review "reciprocal tariffs" and market access for Vietnam's key exports, the ministry said in a statement.
Bloomberg
05-06-2025
- Business
- Bloomberg
Vietnam Says It Is Responding to US Demands With ‘Goodwill'
Vietnam said it is responding to US demands with 'goodwill' as it seeks to address the Trump administration's concerns over the Southeast Asian country's trade gap with the US and avoid crippling duties. Vietnam's Minister of Industry and Trade Nguyen Hong Dien replied to US concerns in documents submitted to the US, and held talks with Trade Representative Jamieson Greer in Paris, according to a post on the Vietnam trade ministry's website. Dien also raised trade concerns of Vietnam, it said.
NHK
23-05-2025
- Business
- NHK
Vietnam breaks ground for Trump luxury golf resort
A family firm of US President Donald Trump has started developing a luxury golf resort in Vietnam. Hanoi may be hoping for special treatment from Washington amid the threat of high tariffs from the Trump administration. Trump's son Eric, who is Executive Vice President of the Trump Organization, together with Vietnamese Prime Minister Pham Minh Chinh, attended a groundbreaking ceremony in Hung Yen province near the capital Hanoi on Wednesday. Their plans are for an upscale golf resort, worth about 1.5 billion dollars. Chinh said, "This project will contribute to promoting Vietnam-US relations to go deeper and become more substantial and effective." He welcomed the venture and urged local authorities to give it maximum support. The US's trade deficit with Vietnam is its third largest after those with China and Mexico. Vietnam had been bracing for a 46 percent tariff before it was put on hold. A US civic group has slammed the resort development, saying it illustrates how Trump's administration takes advantage of foreign governments to gain special treatment for his business.
Reuters
23-05-2025
- Business
- Reuters
Vietnam expresses willingness to combat trade fraud in US tariff talks
HANOI, May 23 (Reuters) - Vietnam said on Friday its trade minister met with the U.S. Commerce Secretary and senators during a visit to the United States, pledging during talks on tariffs to narrow their trade gap and combat trade fraud and illegal transhipment. Vietnam and the United States this week concluded a second round of trade negotiations, as the Southeast Asian industrial hub seeks a deal to avoid a 46% tariff rate on Vietnamese goods, imposed largely due to its big trade surplus with Washington. During the meeting with the U.S. Commerce Secretary Howard Lutnick, Trade Minister Nguyen Hong Dien also urged the United States to recognise Vietnam as a market economy soon and to remove it from its strategic export control lists, the ministry said. Despite Vietnam consistently being one of Asia's fastest-growing economies in the past two decades and its multiple free-trade agreements, the United States still recognises it as a non-market economy, despite Hanoi arguing it has made sufficient reforms to justify an upgrade. The United States is Vietnam's largest export market and its trade surplus with Washington exceeded $123 billion last year, a trade gap Hanoi says it is committed to narrowing. "This would bring practical benefits to both countries and help improve bilateral trade in a fairer, more harmonious and more sustainable manner," the ministry said in a statement. Dien also separately met U.S. senators, including Ted Cruz and Steve Daines, and pledged during the meetings to promote more balanced bilateral trade.
