Vietnam is gearing up for an important round of trade negotiations with the United States, set to begin on May 7. This will mark the first round of discussions since the US introduced new tariff policies that have raised concerns across the global trade community. The announcement of the talks was made by Prime Minister Pham Minh Chinh during his address at the ninth session of the fifteenth tenure National Assembly on May 5.
Prime Minister Chinh delivered a detailed report on Vietnam’s socio-economic performance in early 2025. He explained that the global situation had become increasingly unpredictable, citing challenges such as the escalating trade tensions, particularly between the United States and its trading partners. One of the key concerns highlighted was the impact of the US tariffs, which have placed considerable pressure on global supply chains and trade flows.
In April, the United States imposed a blanket ten percent tariff on imports from all countries, including Vietnam. The tariff increase was accompanied by high reciprocal duties for countries that have been seen as major trade partners with the US. Vietnam was subjected to a forty-six percent tariff, one of the highest among US trade partners. While the US suspended the tariff policy for ninety days, excluding China, the move had already raised alarm in Vietnam’s export-driven economy, where trade with the US plays a pivotal role.
Prime Minister Chinh assured the National Assembly that Vietnam’s government had responded promptly and efficiently to the challenges posed by the tariff changes. He pointed out that the government had implemented a range of flexible measures to mitigate the adverse effects of the tariffs. The government’s swift response, he noted, had produced some early positive outcomes, helping to stabilize the economy.
Vietnam has been included in a group of six countries that the United States has given higher priority in trade negotiations. This group also includes the United Kingdom, India, South Korea, Japan, and Indonesia. These countries are expected to engage in trade talks with the US in the coming months to address the concerns raised by the recent tariff policies.
The Vietnamese government has been closely coordinating with its trade delegation, relevant ministries, and agencies to ensure the country is well-prepared for the negotiations. Prime Minister Chinh emphasized that Vietnam’s approach to the talks would be one of mutual benefit, with a focus on harmonizing interests and sharing risks. This approach, he noted, would help ensure that the outcome of the talks would be positive for both sides.
One of the key aspects of Vietnam’s position is its commitment to maintaining a balanced and cooperative relationship with the United States. Prime Minister Chinh highlighted that Vietnam was ready to work with the US to resolve trade disputes and to strengthen bilateral ties. He also underscored that the country’s leadership had been in close communication with US officials since the announcement of the new tariffs. In fact, General Secretary To Lam was the first leader to personally call US President Donald Trump following the announcement of the tariffs. During this conversation, Vietnam offered to eliminate all tariffs on US imports into Vietnam, urging the US to do the same for Vietnamese goods. This offer reflects Vietnam’s openness to fair and mutually beneficial trade practices.
Prime Minister Chinh also acknowledged the uncertainty that has surrounded the global economic landscape in recent months. He pointed to rising protectionism and unpredictable changes in international trade policy as major challenges. Despite these uncertainties, the Prime Minister expressed confidence that Vietnam’s response, which has been both calm and proactive, would help the country navigate through this volatile period.
The upcoming round of negotiations with the United States will be critical in shaping the future of Vietnam’s trade relations with one of its most important partners. The trade talks are expected to cover a range of issues, including tariff rates, trade imbalances, and broader economic cooperation. The outcome of these talks will have significant implications not only for Vietnam but also for the region’s trade dynamics as a whole.
In conclusion, Vietnam is approaching the upcoming trade negotiations with a clear strategy focused on cooperation, mutual benefit, and economic stability. As the first round of talks approaches, all eyes will be on Hanoi and Washington to see how the two countries can address the challenges posed by the new tariff regime and continue to build a strong economic partnership. The outcome of these discussions will set the stage for future trade relations and may help stabilize a global trade environment that has been marked by increasing tensions in recent years.