U.S. and Vietnam Make Strides in Trade Talks
The United States and Vietnam have concluded another round of trade negotiations, focusing on tariff issues. With talks held in Washington, both parties made progress but identified issues needing further dialogue. Vietnam significantly relies on U.S. exports, facing high reciprocal tariffs temporarily paused until July.
In a significant step towards improved bilateral trade relations, the United States and Vietnam have wrapped up their second round of discussions focusing on tariff-related issues. The Vietnamese Trade Ministry announced the conclusion of the talks on Thursday, noting their commitment to further engagements on unresolved matters.
The discussions, held from May 19-22 in Washington, were led by Vietnam's Trade Minister Nguyen Hong Dien and U.S. Trade Representative Jamieson Greer. Both parties acknowledged progress, identifying areas nearing consensus and others requiring additional dialogue.
With Vietnam heavily relying on exports to the U.S., the talks are particularly crucial. The nation faces one of the highest reciprocal U.S. tariff rates at 46%, although these duties are on hold globally until July. More discussions are slated for early June.
(With inputs from agencies.)
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