Vietnam aims to sign a set of trade deals with the United States this week, as the country seeks to avoid potential tariffs from the Trump administration.
U.S. President Donald Trump plans to impose reciprocal tariffs on imports from a range of countries beginning 2 April, which could affect almost all goods Vietnam sends to the U.S. Its Minister of Industry and Trade Nguyen Hong Dien will meet with U.S. officials this week.
The Vietnamese government has said it does not currently expect these tariffs to significantly damage Vietnam’s economy. “The Ministry of Industry and Trade’s stance is that Vietnam and the U.S. have complementary economies,” said deputy minister Nguyen Sinh Nhat Tan.
Dien will meet with U.S. Trade Representative Jamieson Greer, with delegates from Vietnamese state-owned energy companies like PetroVietnam and EVN also present.
Greer and Dien are expected to hold talks on Thursday, with agreements signed on Friday. Vietnam plans to buy U.S. liquefied natural gas under a potential deal, and is considering lowering duties on U.S. goods.
Vietnam said last month that it was prepared to boost imports from the U.S. in certain sectors. “Vietnam is ready to open its market and increase imports of agricultural products from the United States,” said Dien.
The country also agreed to impose a temporary anti-dumping tariff on hot-rolled steel products from China last month, after the U.S. announced 25% tariffs on all steel imports.
The U.S. is Vietnam’s largest export market, worth more than US$142 billion in 2024, while Vietnam is the U.S. seventh-largest trading partner.
Vietnam’s trade surplus with the U.S. reached a record high of over US$123 billion last year, up almost 20% over 2023.
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