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| Prime Minister Pham Minh Chinh presides over a meeting on May 6, 2025 to discuss preparations for trade negotiation with the the U.S. Photo: VGP/Nhat Bac |
During the negotiation process, it is necessary to consider thoroughly and actively and timely respond to the proposals of the U.S. side under constructive spirit, goodwill and close cooperation, said the Prime Minister.
Relevant ministries need to timely resolve the issues concerned by the U.S. side, and step up import of goods and equipment from the U.S. to gradually balance bilateral trade, said Pham.
He urged localities to promptly process administrative procedures related to investment projects of American investors in Ba Ria-Vung Tau and Hung Yen provinces in accordance with Viet Nam's law.
Viet Nam along with the United Kingdom, India, South Korea, Japan and Indonesia are the first countries that the U.S. has prioritized for negotiations, with the first round scheduled for May 7.
On April 2, the U.S. officially announced a blanket 10 percent tariff policy on imports from all countries and set very high reciprocal tariffs, with Viet Nam subject to a 46 percent reciprocal tariff. One week later, the U.S. Administration announced a 90-day suspension of this reciprocal tariff plan.
Viet Nam's exports to the U.S. in the first quarter this year reached US$31.4 billion, a 22 percent year-on-year increase, while imports rose by almost the same rate to US$4.1 billion./.
