Vietnam and United States Agree to Launch Reciprocal Trade Agreement Negotiations
Washington DC, The Gulf Observer Vietnam and the United States have agreed to initiate negotiations on a reciprocal trade agreement that will encompass tariff-related provisions, marking a significant step forward in enhancing bilateral economic and trade relations.
The agreement was reached on Wednesday afternoon (local time) during a high-level meeting between Vietnamese Deputy Prime Minister Hồ Đức Phớc and United States Trade Representative Jamieson Greer in Washington DC. Deputy PM Phớc is currently visiting the US as the Special Envoy of Party General Secretary Tô Lâm to advance discussions on bilateral economic ties.
During the meeting, Deputy PM Phớc underscored Vietnam’s proactive efforts in addressing the trade imbalance and responding constructively to US concerns. He welcomed the recent US decision to delay tariff imposition for 90 days and proposed that the two countries commence negotiations without delay to establish a comprehensive trade agreement. This agreement, he said, would provide a stable and long-term framework for mutually beneficial cooperation, aligning with the Comprehensive Strategic Partnership between the two nations.
Ambassador Greer acknowledged and appreciated Vietnam’s proactive and constructive steps, which he noted demonstrated the country’s strong commitment to fostering economic cooperation. He affirmed the US’s high regard for its relationship with Vietnam and reiterated its willingness to collaborate on resolving trade imbalances and expanding sectoral ties.
Greer also provided context for the US administration’s tariff policies, stating that the measures were implemented in response to the significant trade deficit with Việt Nam. However, he expressed readiness to begin formal negotiations and suggested that technical teams from both sides begin consultations immediately.
The two sides also agreed to strengthen coordination in improving the business environment, reduce non-tariff barriers, and promote US investments and business activities in Vietnam. Additionally, they pledged closer cooperation in addressing trade fraud and enhancing transparency in bilateral commerce.
In conjunction with his visit, Deputy PM Phớc held separate meetings on April 8–9 with US Senators Bill Hagerty and Steve Daines, as well as with representatives from key US organisations and businesses.
During these engagements, Deputy PM Phớc expressed appreciation for the US Congress’s continued support of the Vietnam–US relationship and highlighted the strategic importance of 2025—the 30th anniversary of the normalisation of diplomatic relations. He emphasized that Vietnam and the US maintain complementary economies and reaffirmed that Vietnam does not compete directly with US export sectors, while remaining a major importer of American services and high-tech products.
Deputy PM Phớc reiterated Vietnam’s commitment to resolving trade-related concerns and called on the US Congress to support lifting tariffs on Vietnamese goods. He also advocated for advancing a sustainable and long-term trade agreement that benefits the citizens and business communities of both nations.
Both senators welcomed the deepening of Vietnam–US ties, recalling their visits to Vietnam and affirming their support for strengthening bilateral relations based on shared strategic interests. They praised Vietnam’s active approach to resolving tariff issues and expressed optimism that formal negotiations would soon yield tangible progress.
As part of his visit, Deputy PM Phớc also met with scholars, economic experts, and prominent business leaders from both countries. He witnessed the signing of a Memorandum of Understanding between Vietnam’s Vietjet and US-based Air Finance, underscoring the growing commercial ties between the two economies.
