US Treasury Secretary leads trade negotiations with Vietnam

Deputy Prime Minister Ho Duc Phoc talks with US Treasury Secretary Scott Bessent. (Photo: VNA)

On April 10 (local time), continuing activities within the framework of his visit to the United States as Special Envoy of General Secretary To Lam to discuss bilateral economic and trade issues, Deputy Prime Minister Ho Duc Phoc had working sessions with Finance Minister Scott Bessent and Commerce Minister Howard Lutnick.

At a meeting with Finance Minister Scott Bessent, Deputy Prime Minister Ho Duc Phoc affirmed that Vietnam attaches importance to developing the Comprehensive Strategic Partnership with the United States, and wishes to promote economic and trade relations in a balanced, harmonious and sustainable manner.

The Deputy Prime Minister appreciated the agreement of both sides to initiate negotiations on a reciprocal trade agreement, including agreements on tariffs; affirmed that Vietnam is ready to negotiate, and suggested that the two sides soon discuss specific issues to reach an agreement as soon as possible, thereby contributing to promoting the stable and sustainable development of bilateral economic and trade relations, meeting the interests of the people and businesses of the two countries.

Treasury Secretary Scott Bessent thanked Vietnam for promptly taking positive measures to address issues of concern to the United States; appreciated the two countries' agreement to negotiate a bilateral trade agreement; and said that the US government appointed him as head of the negotiating delegation with Vietnam.

The Minister expressed his belief that the two sides will soon reach appropriate solutions to promote stable and mutually beneficial economic and trade relations.

At the meeting with Minister of Commerce Howard Lutnick, Deputy Prime Minister Ho Duc Phoc said that the two sides' agreement to initiate negotiations on a bilateral trade agreement is extremely important, in line with the framework of the Vietnam-US Comprehensive Strategic Partnership.

Emphasizing the significance of the two countries celebrating the 30th anniversary of diplomatic relations (1995-2025), the Deputy Prime Minister expressed his delight at the positive development of bilateral relations and hoped that the two sides would continue to closely coordinate to further deepen the Comprehensive Strategic Partnership, in which economic, trade and investment cooperation is an important pillar.

The Deputy Prime Minister affirmed that Vietnam's consistent policy is to maintain political, economic and social stability; build an independent and self-reliant economy, associated with proactive and active international integration, deeply, practically and effectively.

The Deputy Prime Minister asked the US Department of Commerce to closely coordinate with relevant Vietnamese ministries, sectors and agencies during the negotiation process.

Secretary of Commerce Howard Lutnick affirmed that he highly values the relationship with Vietnam, saying that Vietnam is a large economy with great potential and an important partner of the United States in the region.

Minister Lutnick emphasized that the United States currently prioritizes re-industrialization, bringing production back to the United States, and ensuring fair trade. The Minister affirmed that the US Department of Commerce will closely coordinate with Vietnam to negotiate and resolve issues arising in bilateral economic and trade relations, aiming for a suitable agreement, contributing to the development of both the United States and Vietnam.

In recent days, during his “special” working trip to the United States as a special envoy of General Secretary To Lam, Deputy Prime Minister Ho Duc Phoc had many discussions and negotiations with the US Government to reach an agreement on the two countries negotiating a bilateral trade agreement, in which the content on tariffs is an important pillar. This is a very meaningful result in the context of the complicated global trade situation.

This result was achieved based on the orientation of the important phone call between General Secretary To Lam and President Donald Trump on April 4, just two days after the United States announced the imposition of reciprocal tariffs, as well as after the Government's proactive and active efforts to promptly concretize the results of the phone call.

The "special" working delegation led by Deputy Prime Minister Ho Duc Phoc has completed the tasks and goals assigned by the leaders of the Party, State and Government.

Under the direction of the Prime Minister, on April 11, 2025, the Vietnamese Negotiation Delegation will be established to immediately exchange with the US Negotiation Delegation led by Finance Minister Bessent, aiming to soon reach a stable, sustainable, and mutually beneficial bilateral trade agreement.

Source: https://baobinhphuoc.com.vn/news/4/171410/minister-of-finance-hoa-ky-lam-truong-doan-dam-phan-thuong-mai-voi-viet-nam