Vietnam's leader To Lam stated that negotiations for a trade agreement with the United States have been positive, with a deal potentially being signed soon. The remarks followed a meeting with US Trade Representative Jamieson Greer in New York.
The potential finalization of a trade deal between Vietnam and the US could impact global supply chains and trade flows, particularly concerning goods transshipped through Vietnam and the US tariff structure on Vietnamese exports.
Vietnam's leader To Lam has indicated that negotiations for a trade agreement with the United States are progressing positively and that a deal could be signed soon. The Vietnamese government released a statement on Tuesday detailing these developments following Lam's meeting with US Trade Representative Jamieson Greer in New York. Lam is in New York to attend the UN General Assembly.
According to previous reports, US President Donald Trump had announced a 20% tariff on imports from Vietnam, a reduction from a previously considered 46% rate. Additionally, a 40% tariff was proposed for goods transshipped through Vietnam, a measure seen as targeting products from other countries routed via Vietnam to bypass US trade restrictions. In exchange, US goods, including large engine vehicles, were expected to gain tariff-free access to the Vietnamese market. The Ministry of Foreign Affairs of Vietnam had previously announced reaching preliminary terms on a fair and balanced reciprocal trade framework, committing to market access for US goods while the US would cut tariffs on Vietnamese exports.
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