Vietnam is prepared to negotiate with the United States to reduce import tariffs on American goods to zero, Communist Party of Vietnam General Secretary To Lam revealed during a phone call with US President Donald Trump on Friday.
The discussion highlighted both nations' commitment to strengthening bilateral ties for mutual benefit and fostering regional and global peace, stability, and development.
During the conversation, the two leaders acknowledged the significant progress in Vietnam-US relations across multiple sectors. They expressed satisfaction with the growing partnership and emphasised the importance of further enhancing cooperation to address shared challenges.
On trade, General Secretary To Lam underscored Vietnam's willingness to negotiate with the US to cut tariffs on American exports to Vietnam to 0%. In return, he requested that the US reciprocate by reducing tariffs on Vietnamese goods entering the American market.
To Lam also reaffirmed Vietnam’s intention to increase imports from the US and pledged to create favorable conditions for American businesses seeking to invest in Vietnam. He emphasized the importance of fair and balanced trade relations to sustain the upward trajectory of bilateral economic ties.
Both leaders agreed to maintain dialogue and work towards formalizing their commitments through an agreement between the two countries. The details of the agreement are expected to outline steps to facilitate smoother trade and investment flows while addressing existing tariff concerns.
In a gesture of goodwill, General Secretary To Lam extended an invitation to President Trump and the First Lady to visit Vietnam at their earliest convenience. Trump accepted the invitation and expressed his eagerness to meet with To Lam soon. He also requested that To Lam convey his warm regards to Vietnam’s leaders and people.
The phone call came just two days after President Trump announced a new round of "reciprocal tariffs" targeting several US trading partners, including Vietnam. Under this policy, Vietnam faces a hefty 46% tariff on its exports to the US.
Vietnamese authorities have described the tariffs as inconsistent with the strong bilateral cooperation between the two nations. Despite the setback, Vietnam remains open to discussions with the US to reach a fair and mutually beneficial resolution.