Vietnam, US leaders' phone call focuses on tariff deal

THE HANOI TIMES — Vietnam and the US welcomed the agreement reached by their negotiating teams on the Joint Vietnam–US Statement regarding a Fair, Reciprocal, and Balanced Trade Agreement Framework.

General Secretary To Lam and US President Donald Trump shared the view during a phone call today [July 2], in which the two leaders expressed their delight at the strong and positive development of bilateral relations.

President Trump praised Vietnam's commitment to granting preferential market access to US goods, including large-engine automobiles. He affirmed that the US would significantly reduce retaliatory tariffs on many Vietnamese exports and would continue working with Vietnam to address outstanding issues affecting bilateral trade relations, particularly in mutually prioritized sectors.

For his part, General Secretary To Lam urged the US to soon recognize Vietnam as a market economy and to lift export restrictions on certain high-tech products.

The two leaders also discussed major directions and measures to further advance the Comprehensive Strategic Partnership in the years ahead.

Both agreed to strengthen delegation exchanges and high-level engagements, and to enhance cooperation in economic, trade, and investment areas, especially in strategic and breakthrough sectors such as science and high technology.

The two leaders reaffirmed their desire to continue strengthening bilateral cooperation, for the benefit of both countries and to contribute to peace, stability, and development in the region and globally. They shared the view that the Vietnam–US relationship is progressing positively across various fields.

In April, President Trump announced the imposition of baseline and retaliatory tariffs on imports from countries with trade surpluses with the US. The tariff rate on imports from Vietnam was set at 46%.

Following the US decision to postpone the implementation of retaliatory tariffs and agree to launch negotiations with Vietnam, Prime Minister Pham Minh Chinh established a government negotiating team led by Minister of Industry and Trade Nguyen Hong Dien. Since early May, Vietnam's technical-level delegation has engaged in bilateral trade discussions with relevant US agencies.

During an online negotiation on June 19 with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer, Minister Dien stressed Vietnam's intention to work with the US on establishing harmonized rules of origin aligned with global supply chains, ensuring non-discrimination and facilitating business operations for both countries.