Vietnam and the US will negotiate a reciprocal trade agreement.

According to information in the Government Newspaper , during the meeting on the afternoon of April 9 (local time), Mr. Jamieson Greer said that the US agreed that the two sides would start negotiations on a reciprocal trade agreement. This would include tax agreements and suggested that technical levels of both sides immediately start discussions.

The two sides agreed to continue to closely coordinate to promote a favorable business environment, proactively review and consider minimizing non-tariff barriers to each other's goods, creating favorable conditions for US businesses to increase investment and business in Vietnam; and strengthen coordination to control and prevent acts of trade fraud.

Meeting between Deputy Prime Minister Ho Duc Phoc and US Trade Representative Jamieson Greer. (Photo: VGP/Tran Manh)

Meanwhile, Deputy Prime Minister Ho Duc Phoc suggested that although the US has decided to postpone the imposition of tariffs for 90 days, the two countries need to soon negotiate a bilateral trade agreement to create a long-term framework to promote stable and mutually beneficial economic and trade relations, in line with the framework of the Comprehensive Strategic Partnership between the two countries.

The Deputy Prime Minister emphasized that in recent times, Vietnam has proactively implemented many measures to contribute to resolving the trade deficit between the two sides, responding to the concerns of the US; accordingly, the US's imposition of high tariffs on Vietnam's export goods is not consistent with the mutually beneficial economic and trade relations between the two countries, and does not truly reflect the spirit of the Vietnam - US Comprehensive Strategic Partnership.

The Deputy Prime Minister affirmed that Vietnam wishes to continue to strengthen and deepen the Comprehensive Strategic Partnership with the US; thanked the US Government for always supporting a "strong, independent, self-reliant and prosperous" Vietnam; emphasized that Vietnam is persistent in building an independent and self-reliant economy, and persistently pursuing an independent and self-reliant foreign policy, multilateralizing and diversifying foreign relations.

In response, US Trade Representative Jamieson Greer highly appreciated Deputy Prime Minister Ho Duc Phoc's visit as Special Envoy of General Secretary To Lam, expressing gratitude and appreciation for Vietnam's positive and proactive steps, demonstrating Vietnam's commitment to promoting Vietnam-US economic and trade relations.

The US Trade Representative affirmed that the US highly values ​​bilateral relations with Vietnam and wishes to closely coordinate to resolve the trade deficit, aiming for increasingly deeper relations in all fields.

The US Trade Representative shared the reasons and challenges facing the US economy that forced the Trump administration to implement the recent tariff policy, explaining that the high tax rate imposed by the Trump administration on Vietnam is due to the large trade deficit between the US and Vietnam.

PHAM DUY

Source: https://vtcnews.vn/viet-nam-va-my-se-dam-phan-thoa-thuan-thuong-mai-doi-ung-ar936752.html