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.
Vietnam steps up talks with US to reduce hefty tariff
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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
Kyiv ready for talks ‘next week’ with US over Russia proposals: Zelensky
- “Ukraine is ready to work in all working formats,” said Zelensky.
- “It is important that there are results and that the meetings take place“
KYIV: Ukraine’s President Volodymyr Zelensky said Saturday his negotiators were waiting to hear from the United States on further meetings about ending the war with Russia.
Zelensky’s remarks in his evening address appeared to suggest that a second round of talks scheduled to start in Abu Dhabi on Sunday between US, Russian and Ukrainian officials on ending the fighting had been postponed.
“Ukraine is ready to work in all working formats,” said Zelensky.
“It is important that there are results and that the meetings take place. We are counting on meetings next week and are preparing for them.”
Zelensky was speaking as US envoy Steve Witkoff said he had had “productive and constructive” talks with Russian envoy Kirill Dmitriev in Florida on Saturday.
Teams from Ukraine and Russia met Friday and Saturday last week in Abu Dhabi in their first in-person negotiations on a plan being pushed by President Donald Trump to end the war.
They had agreed to resume talks there on Sunday.
On Thursday however, Zelensky suggested that the date and venue could change given the current tensions between Washington and Tehran.
The US says both sides are close to a deal, but they have so far been unable to find a compromise on the key issue of territory in a post-war settlement, according to Kyiv.
