Historic Negotiations Begin

In a significant move towards strengthening economic ties, Vietnam and the United States have agreed to initiate negotiations on a bilateral trade deal. This decision came after Deputy Prime Minister Ho Duc Phoc's meetings with U.S. Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick in Washington.

Deputy Prime Minister Ho Duc Phoc meets with U.S. Treasury Secretary Scott Bessent in Washington. Photo by VGP

Building Balanced Trade Relations

Deputy Prime Minister Phoc emphasized Vietnam's desire for balanced, harmonious, and sustainable economic and trade relations with the U.S. He highlighted the importance of detailed discussions to swiftly reach an agreement that benefits both nations.

Deputy Prime Minister Ho Duc Phoc meets with U.S. Commerce Secretary Howard Lutnick in Washington. Photo by VGP

Commitment to Mutual Benefits

U.S. officials expressed confidence in finding solutions that advance stable and mutually beneficial trade relations. The discussions also touched on bringing manufacturing back to the U.S. and ensuring fair trade, with Vietnam recognized as an important partner.

Next Steps

A technical negotiation team led by Minister of Industry and Trade Nguyen Hong Dien is set to engage with the U.S. delegation. The goal is to achieve a stable, sustainable, and mutually advantageous agreement, without affecting Vietnam's existing free trade agreements.