Vietnam, which received an anticipated reciprocal tariff of 46% from U.S. President Donald Trump, has begun trade negotiations with the United States.
On the 24th (local time), Vietnam News Agency (VNA) reported that Minister Nguyen Hong Dien of the Ministry of Industry and Trade had initiated trade negotiations with U.S. Trade Representative (USTR) Jamieson Greer during a phone call the previous day, according to the Ministry of Industry and Trade.
During this meeting, both countries reviewed the principles, scope, and roadmap of the trade negotiations. Minister Dien noted that Vietnam's various government institutional sectors are ready to cooperate to find mutually beneficial solutions based on the principles of listening to the concerns of the United States and achieving harmonious interests and common risks.
In response, Representative Greer welcomed the start of trade agreement negotiations and expressed confidence that the two countries would soon find appropriate solutions to promote a stable and mutually beneficial economic and trade relationship.
The two countries agreed to maintain regular exchanges between chief delegations and working-level officials to accelerate the pace of negotiations on specific issues.
Earlier this month, the Ministry of Industry and Trade initiated measures to strengthen management by preparing guidelines to crack down on trade fraud, including illegal transshipment, to prevent the circumvention of U.S. demands through exports of Chinese goods via Vietnam.
The Ministry of Industry and Trade has implemented stricter procedures, such as improving origin data verification and conducting factory audits to verify the attachment of 'Made in Vietnam' labels.
The Vietnamese government is also reported to have reached an agreement with the U.S. government to procure at least 24 F-16 fighter jets from the United States, according to the diplomatic journal The Diplomat citing defense media '19FortyFive.'
If Vietnam's procurement of F-16s is ultimately confirmed, it is expected to significantly reduce Vietnam's trade surplus with the United States, making it the largest military and defense-related transaction between the two countries.