Published Mon, Jun 16, 2025 · 06:51 AM
[HANOI] Vietnam said on Sunday it was “narrowing the gap” in trade talks with Washington, but key issues remain unresolved as it tries to head off US President Donald Trump‘s threatened 46 per cent tariff.
The South-east Asian nation has the third-biggest trade surplus with the United States of any country after China and Mexico, and was targeted with one of the highest rates in Trump‘s global levy blitz.
Vietnamese and US officials have now held three rounds of talks as they strive for a compromise before a 90-day pause on the tariff plans expires in early July.
“The Vietnam and US negotiating teams made much progress, narrowing the gap in all areas of negotiation,” said a statement from Vietnam’s trade ministry after four days of talks concluded in Washington on Thursday.
“The two sides discussed frankly and in a constructive spirit the issues of concern of each country,” it added.
But the statement said meetings would continue online to discuss “outstanding issues” and that both sides agreed to organise online talks between US Secretary of Commerce Howard Lutnick and Vietnam Trade Minister Nguyen Hong Dien.
A NEWSLETTER FOR YOU
Friday, 8.30 am
Asean Business
Business insights centering on South-east Asia’s fast-growing economies.
The United States was Vietnam’s number one export market with US$57 billion in the first five months of 2025 – up from US$44 billion over the same period a year ago.
Textiles and footwear were among the leading products sent to American clients.
When announcing his raft of levies in April, Trump claimed Vietnam charged the United States a 90 per cent tariff, which was based on Hanoi’s trade surplus of US$123.5 billion last year.
His administration also appeared particularly angry about what it sees as the Asian nation’s role in attempts to get around tariffs imposed on China.
But given Vietnam’s vital role in global supply chains, many parties – including US companies in the country – have urged the White House to walk back the tariffs. AFP
Share with us your feedback on BT’s products and services
