Vietnamese Prime Minister Pham Minh Chinh has expressed confidence about “positive” results ahead of the US trade deal deadline in two weeks, while pledging to maintain a “good balance” between the US and China.
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“I hope that you will see that the result will come earlier than two weeks,” Pham told the World Economic Forum’s summer meeting in the Chinese city of Tianjin on Wednesday.
“We have self-confidence. We would arrive at something positive, and that will bring about benefits to the US, to American consumers, to us … to all countries around the world.”
The Annual Meeting of the New Champions, also known as “Summer Davos”, comes as dozens of US trade partners approach the expiry of a 90-day pause on tariffs imposed by the Trump administration.
Vietnam has been among the hardest hit by President Donald Trump’s global tariff war launched on April 2. Hanoi has been in active negotiations with the US – its largest export market – to avoid the 46 per cent duties set to be imposed on Vietnamese products from July 9, the deadline Trump set for a deal.
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After Vietnam threatened with 46% US tariffs, how will Hanoi strike a deal with Washington?
After Vietnam threatened with 46% US tariffs, how will Hanoi strike a deal with Washington?
Vietnam’s Communist Party chief To Lam is expected to travel to the US in the coming weeks to finalise an agreement, including offering to buy more Boeing aircraft and tariff reductions to between 20 and 25 per cent, Bloomberg reported last week. The two countries are also reported to be close to reaching a trade framework following several rounds of negotiations.