Key facts
- Vietnam urged the U.S. to conclude its Section 301 investigation into alleged trade distortions, IP violations, and forced labor.
- A temporary 10% tariff on Vietnamese goods is set to expire.
- Vietnam's trade deficit with the U.S. was $75.3 billion in the first half of the year.
- EU foreign policy chief Kaja Kallas questioned the U.S. rationale for new tariffs on European goods, calling allegations unfounded.
- The EU plans to seek clarification from Washington regarding the tariffs.
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. 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. 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. Separately, EU foreign policy chief Kaja Kallas questioned Washington's rationale for imposing new tariffs on European goods, calling allegations of shortcomings in the bloc's forced labor controls unfounded and viewing the tariffs as a negative surprise that breaks a prior agreement.