Key facts
- Vietnam is committed to concluding trade negotiations with the United States.
- Vietnam urged the U.S. to conclude its Section 301 investigation.
- A temporary 10% tariff on Vietnamese goods is set to expire.
- The U.S. is investigating Vietnam for alleged trade distortions, IP violations, and forced labor.
- Vietnam's trade deficit with the U.S. was $75.3 billion in the first half of the year.
Vietnam's foreign ministry has reiterated its commitment to concluding trade negotiations with the United States and urged Washington to finalize its Section 301 investigation into the Southeast Asian nation. This appeal comes as a temporary 10% tariff on goods exported from Vietnam is scheduled to expire on Friday.
The discussions follow over a year of talks between Vietnam and its largest export market. The U.S. has initiated three separate probes into Vietnam, investigating allegations of trade distortion through excess capacity, intellectual property violations, and the use of goods produced by forced labor.
Vietnam's foreign ministry stated that the Section 301 investigation should conclude with a decision that fully acknowledges Vietnam's efforts. Foreign Minister Le Hoai Trung also expressed Vietnam's willingness to support U.S. firms in expanding their investments and business activities within the country. Data from Vietnam's government indicates that the trade deficit with the United States reached $75.3 billion in the first half of the year, marking a 21% annual increase.