Vietnam steps up talks with US to reduce hefty tariff

The Ministry of Industry and Trade in Hanoi. (File/AFP)
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Updated 17 May 2025
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Vietnam steps up talks with US to reduce hefty tariff

  • The US has postponed the implementation of the 46 percent tariff on Vietnam until July.
  • Vietnam has the fourth-largest trade surplus among all US trading partners

HANOI: Vietnam and the United States held their first direct ministerial-level negotiations on Friday against the backdrop of an impending US tariff of 46 percent on imports from the Southeast Asian nation, which could significantly impact its growth.
The Vietnamese trade ministry said in a statement released on Saturday that the meeting, which occurred in Jeju, South Korea, following the 31st APEC Ministerial Meeting on Trade, symbolized both nations’ commitment to fostering a stable economic, trade, and investment relationship.
The talks follow a phone call last month between Vietnamese trade minister Nguyen Hong Dien and US Trade Representative Jamieson Greer that officially started negotiations.
“USTR Greer agreed with Vietnam’s current approach and proposal,” the trade ministry’s statement said. “The United States hopes that with the mutual efforts, the technical-level negotiations in the coming days will yield positive results.”
The US has postponed the implementation of the 46 percent tariff on Vietnam until July. If enforced, the levy could disrupt growth in Vietnam, which is heavily dependent on sales to the United States, its largest export market, and substantial foreign investments in manufacturing goods for export.
Vietnam has the fourth-largest trade surplus among all US trading partners, worth $123.5 billion last year.
In an attempt to diminish that trade surplus, Hanoi has recently implemented several measures, including reducing tariffs on a multitude of goods destined for the US and intensifying its efforts to curb the shipment of Chinese goods to the US via its territory.


US bringing seized tanker to port as Venezuela war fears build

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US bringing seized tanker to port as Venezuela war fears build

  • Washington took control of the tanker in a dramatic raid that saw US forces rope down from a helicopter onto the vessel
  • Trump told Politico that Maduro’s ‘days are numbered’ and declined to rule out a US ground invasion of Venezuela
WASHINGTON: An oil tanker seized by American forces off the Venezuelan coast will be brought to a port in the United States, the White House said Thursday, as fears mount of open conflict between the two countries.
Washington took control of the tanker in a dramatic raid that saw US forces rope down from a helicopter onto the vessel in an operation that Homeland Security Secretary Kristi Noem said was aimed at leftist Venezuelan leader Nicolas Maduro’s “regime.”
President Donald Trump’s administration has been piling pressure on Venezuela for months with a major naval build-up in the region that has been accompanied by strikes on alleged drug-trafficking boats that have killed close to 90 people.
Russian leader Vladimir Putin on Thursday expressed support during a phone call with his ally Maduro, but with Moscow’s forces tied down in a grinding war in Ukraine, its capacity to provide aid is limited.
“The vessel will go to a US port and the United States does intend to seize the oil,” White House Press Secretary Karoline Leavitt told journalists of the tanker.
“We’re not going to stand by and watch sanctioned vessels sail the seas with black-market oil, the proceeds of which will fuel narco-terrorism of rogue and illegitimate regimes around the world.”
Earlier on Thursday, Noem told a congressional hearing that the tanker operation was “pushing back on a regime that is systematically covering and flooding our country with deadly drugs” — a reference to US allegations of narcotics smuggling by Maduro’s government.
A video released Wednesday by US Attorney General Pam Bondi showed American forces descending from a helicopter onto the tanker’s deck, then entering the ship’s bridge with weapons raised.
Bondi said the ship was part of an “illicit oil shipping network” that was used to carry sanctioned oil.

Blatant theft

Venezuela’s foreign ministry said it “strongly denounces and condemns what constitutes blatant theft and an act of international piracy.”
UN Secretary-General Antonio Guterres on Thursday expressed concern over the escalating tensions and urged restraint.
“We are calling on all actors to refrain from action that could further escalate bilateral tensions and destabilize Venezuela and the region,” his spokesperson said.
US media reported that the tanker had been heading for Cuba — another American rival — and that the ship was stopped by the US Coast Guard.
Dick Durbin, the top Democrat on the Senate Judiciary Committee, said Thursday he questioned the legality of the tanker seizure and that “any president, before he engages in an act of war, has to have the authorization of the American people through Congress.”
“This president is preparing for an invasion of Venezuela, simply said. And if the American people are in favor of that, I’d be surprised,” Durbin told CNN.
Washington has accused Maduro of leading the alleged “Cartel of the Suns,” which it declared a “narco-terrorist” organization last month, and has offered a $50 million reward for information leading to his capture.
The US Treausury also imposed new sanctions Thursday targeting three of Maduro’s relatives as well as six companies shipping the South American country’s oil.
Trump told Politico on Monday that Maduro’s “days are numbered” and declined to rule out a US ground invasion of Venezuela.
The Trump administration alleges that Maduro’s hold on power is illegitimate and that he stole Venezuela’s July 2024 election.
Maduro — the political heir to leftist leader Hugo Chavez — says the United States is bent on regime change and wants to seize Venezuela’s oil reserves.