Deputy Prime Minister Ho Duc Phoc works with Finance Minister Scott Bessent - Photo: VGP
Continuing his activities within the framework of his visit to the US as Special Envoy of General Secretary To Lam to exchange views on bilateral economic and trade issues, on April 10 (local time), Deputy Prime Minister Ho Duc Phoc held working meetings with Finance Minister Scott Bessent and Commerce Minister Howard Lutnick.
Tariff provisions are a key clause in negotiated agreements.
Along with finalizing the bilateral trade agreement, both sides have officially agreed to consider negotiating the tariff provisions, which is the most important clause of this agreement.
This is the biggest breakthrough achieved by the Vietnamese special task force with the US government during the recent tense negotiations, as the US had repeatedly proposed signing a bilateral trade agreement.
The Government's online portal assessed that, with this negotiation step, Deputy Prime Minister Ho Duc Phoc has opened a long-closed "steel door" and successfully completed the task and objectives. In the coming time, the Government will consider establishing a ministerial-level technical negotiation group to concretize the results achieved by the special working group in recent days.
During his meeting with Treasury Secretary Scott Bessent, Deputy Prime Minister Ho Duc Phoc affirmed that Vietnam attaches great 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 highly appreciated the agreement between the two sides to launch negotiations on a reciprocal trade agreement, which includes agreements on tariffs.
With Vietnam's readiness to negotiate, he suggested that the two sides hold detailed discussions soon in order to reach an agreement as quickly as possible.
US Treasury Secretary Scott Bessent expressed his pleasure at meeting Deputy Prime Minister Ho Duc Phoc, stating that he had previously visited Vietnam and personally had many positive impressions and fond memories of the country and its people.
Minister Bessent thanked Vietnam for its timely and positive measures in addressing US concerns; appreciated the two countries' agreement to negotiate a bilateral trade agreement; and stated that the US administration had appointed him as the head of the negotiating team with Vietnam.
Therefore, he expressed confidence that both sides would soon reach appropriate solutions, promoting stable and mutually beneficial economic and trade relations.
Deputy Prime Minister Ho Duc Phoc meets with Minister of Commerce Howard Lutnick - Photo: VGP
The US Secretary of Commerce assesses the great potential of the Vietnamese economy.
During his meeting with Commerce Secretary Howard Lutnick, Deputy Prime Minister Ho Duc Phoc stated that the agreement between the two sides to launch negotiations on a bilateral trade agreement is of paramount importance and is consistent with the framework of the Vietnam-US Comprehensive Strategic Partnership.
Emphasizing the significance of the 30th anniversary of the establishment of diplomatic relations between the two countries (1995-2025), the Deputy Prime Minister expressed his pleasure at the positive development of bilateral relations and hoped that both sides would continue to coordinate closely to further deepen the comprehensive strategic partnership, in which economic, trade, and investment cooperation is an important pillar.
The Deputy Prime Minister affirmed Vietnam's consistent policy of maintaining political, economic, and social stability; building an independent and self-reliant economy, coupled with proactive and effective deep and substantive international integration.
The Deputy Prime Minister requested that the US Department of Commerce closely coordinate with relevant ministries, agencies, and organizations in Vietnam during the negotiation process.
Secretary Howard Lutnick affirmed that he highly values the relationship with Vietnam, stating that Vietnam is a large economy with great potential and an important partner of the United States in the region.
Secretary Lutnick emphasized that the US currently prioritizes re-industrialization, bringing manufacturing back to the US, and ensuring fair trade.
The Minister affirmed that the US Department of Commerce will work closely with Vietnam to negotiate and resolve issues arising in bilateral economic and trade relations, aiming for a suitable agreement that contributes to the development of both the US and Vietnam.
Source: https://tuoitre.vn/viet-my-nhat-tri-dam-phan-thoa-thuan-thuong-mai-song-phuong-20250411074109478.htm
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