Vietnam starts trade negotiations with the US as a 46% high tariff looms.

On April 23, Jin10 reported that the Vietnamese Minister of Trade spoke on the phone with U.S. Trade Representative Tai on Wednesday. As the U.S. imposes tariffs of up to 46% on Vietnam, threatening Vietnam’s rise as an industrial hub in Southeast Asia, trade negotiations have begun. Currently, the U.S. has suspended the imposition of the 46% reciprocal tariff until July. If reciprocal tariffs are implemented, it could undermine Vietnam’s rise, as Vietnam relies heavily on exports to the U.S. and significant investments from foreign manufacturers. The head of the Vietnamese negotiation team, the Minister of Trade, stated that Vietnam is ready to address existing issues on the basis of mutual interests. The U.S. side hopes that both parties can reach an agreement to establish a stable and sustainable trade relationship.