The US will prioritize negotiations with several countries, including Vietnam, India, the UK, Japan, South Korea, and Indonesia in tariff talks, Do Ngoc Hung, Trade Counselor at the Vietnam Trade Office in the US has told a conference, as reported by Cafe F. This comes as the end of a 90-day pause on a 46 percent import tariff on Vietnamese goods draws uncomfortably nearer.
Hung goes on to say that:
- US consumer giants like Target, which imports 30% of its goods from Vietnam, along with Walmart and Costco, have warned President Trump about the negative impact of tariffs on consumer sentiment and prices;
- There is broad support from large US enterprises and retailers for an agreement between Vietnam and the US to remove or adjust tariffs;
- High-level exchanges between the two countries are important, including phone calls between leaders and ministerial visits, in strengthening the strategic partnership; and
- Vietnam should continue diplomatic efforts to address “reciprocal” tariff issues.
Of note, Hung’s insights, from on the ground in Washington DC, support the perceived significance of the upcoming negotiations for Vietnam’s trade relationship. Moreover, his statements highlight the active role of the Vietnam Trade Office in advocating for a trade deal.
See also: What’s Next for Vietnam if Trump’s 46 Percent Tariff is Here To Stay?