Vietnam trade ministry: Minister Dien welcomes proposals from US Commerce Secretary Lutnick and Trade Representative Greer

Vietnam trade ministry: Minister Dien welcomes proposals from US Commerce Secretary Lutnick and Trade Representative Greer

The Vietnamese Ministry of Industry and Trade (MOIT) has expressed satisfaction with the progress made during the third round of technical negotiations on a reciprocal trade agreement with the United States. The negotiations, held from June 9 to 12 in Washington, D.C., saw significant advancements, with both sides narrowing gaps across all areas of discussion [2].

Minister Nguyen Hong Dien, leading the Vietnamese delegation, met with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer. The discussions were characterized by frank and constructive exchanges, with both sides agreeing to hold a virtual meeting in the coming days to address remaining issues [2].

At the final working session, Minister Dien engaged simultaneously with Secretary Lutnick and Ambassador Greer, marking the first U.S. proposed ministerial-level dialogue in this format. Minister Dien introduced several initiatives to accelerate the negotiation process, which were appreciated by both US ministers [2].

The US Commerce Secretary Lutnick acknowledged Vietnam's proposals and concerns, stating he would coordinate with the US Trade Representative to explore suitable solutions. Minister Dien reiterated Vietnam’s resolve to forge a balanced, sustainable, and mutually beneficial economic partnership with the US [2].

The third round of negotiations follows two technical rounds held last month and was launched after the US administration announced a 46-percent reciprocal tariff on Vietnamese imports. The tariff implementation was postponed for 90 days to allow time for negotiations [2].

The bilateral negotiations represent a strategic step toward a reciprocal trade agreement and lay the foundation for a deeper, more stable, and sustainable partnership between the two economies. With total bilateral trade reaching over USD 123 billion in 2024, the United States is currently Vietnam’s largest export market, and Vietnam ranks as the United States’ seventh-largest trading partner globally [2].

References:
[1] https://visaguide.world/news/nearly-70000-apply-for-trumps-5-million-investor-visa-lutnick-says/
[2] https://news.tuoitre.vn/third-round-of-vietnam-us-trade-talks-sees-significant-progress-ministry-103250616144833549.htm
[3] https://www.linkedin.com/pulse/3rd-vietnam-us-reciprocal-trade-negotiation-sees-significant-xrsgc